Ross Stores to split stock in June

Off-price retailer Ross Stores feels so good about its sales performance and outlook that it has approved a 2-for-1 stock split scheduled for June.

The company said the split will be paid in the form of a 100% stock dividend to stockholders of record as of April 22.

Ross Stores had fiscal 2014 revenue of $11 billion.

"We have delivered solid and consistent financial performance over the past few years which has contributed to significant stock price appreciation over this period,” said Barbara Rentler, CEO. “Our decision to split the stock reflects both the board of directors' and management's ongoing confidence in the company's future growth prospects and our continued commitment to enhancing stockholder value."

The company runs Ross Dress for Less stores, with 1,242 locations in 33 states, the District of Columbia and Guam. The company also has 157 dd's Discounts stores in 15 states.