Steve Madden said its board has approved a three-for-two stock split of the company’s outstanding common shares. The stock split will be executed in the form of a stock dividend. Shareholders at the close of business on April 20 will get one additional common share for every two common shares. The shares are expected to be distributed around April 30, the fashion footwear company said. Following the stock split, the number of outstanding common shares will increase to about 27.5 million shares from 18.3 million shares.