Nvidia Declares 4-For-1 Stock Split
May 21 2021 - 8:50AM
Dow Jones News
By Colin Kellaher
Nvidia Corp. on Friday said its board declared a 4-for-1 stock
split in a bid to make owning the graphics-chip maker's shares more
affordable for investors and its employees.
The Santa Clara, Calif., company said the split is subject to
shareholder approval of a proposal to increase the number of
authorized shares to four billion from the current two billion.
Nvidia, which currently has about 622.4 million shares
outstanding, sports a market capitalization of roughly $350 billion
based on Thursday's closing price of $584.50. A year ago, Nvidia
shares were changing hands at around $361.
Nvidia's shareholders are slated to vote on the increase in
authorized shares at the company's annual meeting on June 3. If
approved, shareholders of record on June 21 will receive three
additional shares on July 19 for each share held, with post-split
trading to begin July 20, the company said.
Shares of Nvidia rose 3.7% to $606.20 in premarket trading
Friday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 21, 2021 09:35 ET (13:35 GMT)
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