RETAILING

J.C. Penney Co. Announces Stock Split: The Dallas-based retailer declared a two-for-one split of the company’s common stock and increased the quarterly cash dividend 9.1%. On a pre-split basis, the regular quarterly dividend on the company’s outstanding common stock was increased 6 cents to 72 cents per share, bringing the annual rate to $2.88. On a split basis, the quarterly cash dividend was increased 3 cents to 36 cents per share, with an annual rate of $1.44. Both the stock split and the increased dividend will be payable May 1 to stockholders of record on April 12.