Shareholders of record will get two common shares for each one they hold.

HMS Holdings Corp. said on Monday that its shareholders have approved an increase in the number of company shares to provide for a 3-for-1 stock split, with the new shares to be distributed Aug. 16.

Shareholders of record on July 22 will get two common shares for each one they hold.

The company said having more shares will improve its liquidity in the market and make the shares attractive to a broader range of investors.

HMS Holdings provides cost-recovery services to government health care programs.

According to Yahoo, daily volume for HMS shares has averaged 160,070 over the past three months. On Monday, its shares fell 82 cents to close at $78.34. They have traded between $50.58 and $84.82 over the past year.


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