NVIDIA Announces 4-for-1 Stock Split
NVIDIA's (NASDAQ: NVDA) common shares are about to get a whole lot cheaper, and not because the stock is in trouble. The chipmaker announced in a press release Friday that it would initiate a four-for-one stock split. The company's board of directors has already approved the move, which NVIDIA says will make its shares "more accessible to investors and employees."
The split will come in the form of a stock dividend, distributing three additional shares of common stock for every share investors own as of close of business on June 21. The new shares will be disseminated after the market close on July 19 and will begin trading on a split-adjusted basis on July 20. The move will require shareholder approval at the company meeting next month.
NVIDIA GeForce RTX 30 series of processors. Image source: NVIDIA.
Source Fool.com
