Shares of PC gaming firm NVIDIA (NASDAQ: NVDA) jumped at the open after announcing a four-for-one stock split in the form of a stock dividend.
The company said the stock split will make stock ownership more accessible to investors and employees.
The stock dividend still needs to be approved by shareholders at the company’s annual meeting on June 3 to increase authorised shares to 4 billion.
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If shareholders approve, each NVIDIA stockholder at the close of business on June 21 will receive a dividend of three additional shares for every share held.
Trading is expected to begin on a stock split-adjusted basis on July 20.
NVIDIA’s current share price is sitting at $605.61, up 3.61%. For the year-to-date, it is up 15.39% after gaining 5.7% in the past week.
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