Universal Electronics Splits Stock 2-for-1

Universal Electronics Inc., a Cypress supplier of universal remote controls and other devices for home video and audio equipment, said Tuesday that its board of directors has approved a 2-for-1 stock split.

Additional shares will be distributed by Jan. 31 in the form of a stock dividend to stockholders of record on Jan. 10.

As of Dec. 31, Universal Electronics had about 6.8 million shares outstanding. The split will increase the total number to 13.6 million shares.

The company’s stock price fell $1.88 a share Tuesday to close at $43 in Nasdaq trading.