	pier imports pir declares stock split pier imports inc said its board declared a three for two split of its common stock and its cents preferred stock and declared a regular quarterly dividend of two cents per share on the pre split shares of common stock outstanding pier also declared a pct annual dividend increase for the post split common shares the split will be effected in the form of a pct stock dividend on both classes the company said shareholder approval is required for an increase in authorized shares of common stock to mln from mln it said approval is also needed for an increase in authorized shares of preferred stock from one million to five million it said voting will be conducted at its annual shareholder meeting on june pier said there are currently million shares of common stock and shares of cts preferred stock outstanding the split shares will be distributed on june to shareholders of record may the two cts per share quarterly cash dividend will be payable may to shareholders of record may the increase in shares outstanding will broaden the base of stock ownership in the company and the dividend increase reflects the directors positive outlook for the future prospects of pier imports said clark johnson president and chief executive officer reuter 
