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The parent company of Lakeville-based Salisbury Bank and Trust Co. plans to double its shares of common stock with a two-for-one stock split.

The bank said in a statement last week that the its board had approved a plan to amend the company’s certificate of incorporation and increase the shares of common stock from 5 million to 10 million.

The bank’s board also approved a two-for-one forward split of the shares. The bank said the split was “a means of enhancing the liquidity and marketability of Salisbury’s securities in the best interests of shareholders.”

The stock split would result in every share of Salisbury common stock being converted into two shares of stock. The dollar value of all outstanding shares would remain the same because the price per share would adjust when the stock splits. Companies often use stock splits to make investing and trading more affordable.

Salisbury’s stock has traded on the Nasdaq at prices between approximately $53 and $57 per share over the past month.

Shareholders must approve the amendment to increase the number of shares before the stock split can take place. The amendment would require a majority vote of the shares represented at a shareholder meeting where a quorum is present, Salisbury said, adding that it would seek shareholder approval for the proposal at its annual meeting on May 18.

The stock split would have no impact on shareholders’ voting rights and would not affect Salisbury’s business operations, the statement said.

Shareholders of record at the close of business on March 16 will be entitled to vote, the statement said. The statement added that the board could delay or abandon the forward stock split before its effective date if it is no longer in the best interests of Salisbury or its shareholders.

Salisbury Bank has about $1.5 billion in assets and 14 branches in Litchfield County, Western Massachusetts and New York.