Nvidia (NASDAQ:NVDA) stock is a hot topic on Friday after the company announced that it’s going to be splitting its shares next month.
Let’s get into everything investors need to know about that upcoming NVDA stock split below!
NVDA Stock Split Details
- Nvidia will enact a 10-for-one stock split for its shares.
- That split is set to go into effect after markets close on June 7, 2024.
- This will result in shares starting to trade on a split-adjusted basis on June 10, 2024.
- The company is introducing an amendment to its Restated Certificate of Incorporation to allow for the split.
- When it goes into effect, NVDA shareholders will receive an additional nine shares of the company’s stock.
- This will also result in a proportionate increase to the number of authorized shares available.
- Nvidia is also increasing its quarterly cash dividend by 150%, which will be equivalent to one cent per share after the split.
Nvidia is likely hoping to attract more investors with this stock split. Currently, its shares are trading for more than $1,000 each. That high price can make it difficult for new traders to take a stake in the company. Lowering the price through a split alleviates this problem.
NVDA stock is up slightly as of Friday morning and is up 117.1% since the start of the year.
There are plenty of other stock market stories traders are going to want to read about today!
We have all of the hottest stock market news traders need to know about on Friday! That includes what’s happening with shares of Netlist (OTCMKTS:NLST) stock, Verastem (NASDAQ:VSTM) stock and more. All of this info is ready to go at the links below!
More Stock Market News for Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
