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Amerada Hess plans stock split, name change

(AP) — Oil and gas company Amerada Hess Corp. said Friday it wants to split its stock on a 3-for-1 basis and change its name to Hess Corp.

Amerada Hess said the split would increase the number of shares it can issue to 600 million from 200 million, subject to shareholder approval. The Manhattan-based company aims to declare the stock dividend after its annual shareholders meeting scheduled for May 3.

At the meeting, Amerada Hess will ask shareholders for permission to change the company's name, saying the ''Hess'' brand is firmly established in its marketing and refining operations, readily recognized by customers and in the communities where it operates.

''We believe that changing our corporate name to the name under which we do business will promote simplicity and standardization of our brand,'' Chairman and Chief Executive John B. Hess said in a statement.

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