Bridgford Foods Declares Stock Split

Bridgford Foods Corp., a maker of frozen bread dough, sandwiches that can be microwaved, processed meats, dry sausages and other convenience-food products, has announced a 3-for-2 stock split.

The announcement prompted an 11% increase in the company’s stock Tuesday, to $17.75, up $1.75 in trading on the New York Stock Exchange. On Wednesday, the stock fell back $0.25 to $17.50.

After the split takes effect in December, the Anaheim-based company will have 6,265,000 shares outstanding. The company’s stock has previously split 3-for-2 in each January of the past three years.

Bridgford also announced a 4-cents-per-share cash dividend payable Dec. 28 to shareholders of record on Dec. 3. The company said that taking the split into account, the effective dividend rate increased 20%.