I have the 5 year chart pulled up for the company Alleghancy Corp. (Symbol: Y) on Yahoo, and it shows that the company has had 5 splits, roughly at the same time each year, at a 102:100 ratio. Now, i'm used to seeing the common 2:1 and 3:1 ratios, and even reverse splits, but what is the purpose of such a small split? (Or the real purpose of splits period, but that's a topic for another discussion.) Such a split as above basically boils down to a 1.02:1 ratio.
Anyone know the reasoning behind this?
Anyone know the reasoning behind this?
