Tractor Supply plans 2-for-1 stock split

Brentwood, Tenn.-based Tractor Supply approved a 2-for-1 stock split, to be initiated Sept. 18. 

It will be the company's fourth 2-for-1 split since 2002.

"This action is the result of our strong operating results and stock price performance, and reflects the confidence that the board and management have in our long-term business strategy and our ability to continue returning value to our shareholders," said executive chairman Jim Wright. 

The company said the move is intended to make the stock more affordable to investors, and increase liquidity and accessibility. 

Shares of Tractor Supply (TSCO) were just under $120 yesterday. Adjusted for splits, the stock's share price traded in the mid- to high-teens in 2002.