TSX approves Richelieu share split

MONTREAL — Richelieu Hardware announced that it has obtained approval from the Toronto Stock Exchange for the three-for-one split of its outstanding common shares. The share split was initiated by the company’s board of directors in an effort to improve the liquidity of Richelieu’s shares and keep common shares accessible to individual shareholders. The split will not dilute shareholders’ equity and will not have unfavourable tax consequences for shareholders under Canadian tax laws.