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8/17/2012 12:34 PM ET

LKQ Corporation (LKQ: Quote) said Friday that its Board of Directors have approved a two-for-one split of the company's common stock.

Each stockholder of record on August 28 will receive an additional share for every outstanding share held by them on that date.

Trading will begin on a split-adjusted basis on September 19.

This split is the third since LKQ began trading publicly in 2003.

LKQ noted that after accounting for the previous two splits, one share of the common stock of the company purchased in 2003 at the initial public offering price of $13 would now be worth about $150.

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