K MART <KM> RAISES PAYOUT, VOTES SPLIT K mart Corp said its board approved a 17.6 pct increase in the quarterly dividend and declared a three-for-two stock split. The company raised its dividend to 43.5 cts a presplit share, up from the previous 37 cts a share. After the split, the new quarterly dividend rate is equivalent to 29 cts a share. It is payable June Eight, record May 21. It said the additional shares will be distributed June Five, record May 21.