Feb 22 (Reuters) - CarMax Inc. said its board approved a 2-for-1 stock split in the form of a share dividend.
Each shareholder of record on March 19 will be issued one additional share of common stock for every issued and outstanding share owned as of that date, the retailer of used cars said.
As a result of the stock split, the number of shares outstanding will increase to around 216 million shares. (Reporting by Rajeshwari Sharma in Bangalore)