NVIDIA Announces 10-for-1 Stock Split
Key Points
* NVIDIA announces a 10-for-1 stock split. * Shareholders of record as of June 6, 2024 will receive nine additional shares. * The split will be effective on June 29, 2024.
Details of the Stock Split
NVIDIA announced a 10-for-1 stock split in its fiscal first-quarter earnings report on Wednesday. The stock split is designed to make NVIDIA shares more affordable and accessible to a wider range of investors. Under the terms of the split, each shareholder of record as of June 6, 2024 will receive nine additional shares for every share they own. The split will be effective on June 29, 2024.
Reason for the Stock Split
The company stated in its press release that the stock split is intended to "increase the accessibility of the company's shares to a broader range of investors." By splitting the shares, NVIDIA is making it more affordable for investors to buy and hold shares in the company. This is likely to increase demand for NVIDIA shares, which could lead to a higher stock price in the long term.
Impact of the Stock Split
The stock split will not affect the total value of NVIDIA's outstanding shares. However, it will increase the number of shares outstanding from approximately 453 million to approximately 4.53 billion. The split will also have no impact on NVIDIA's financial results or operations.
Timing of the Stock Split
NVIDIA's stock split is expected to be effective on June 29, 2024. This means that investors who purchase NVIDIA shares before June 6, 2024 will be eligible to receive the additional shares resulting from the split. Investors who purchase NVIDIA shares after June 6, 2024 will not be eligible to receive the additional shares.
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