Nvidia Announces Upcoming Stock Split
Effective Date and Shareholder Eligibility
Nvidia has announced a 10-for-1 stock split, scheduled to take effect at the close of the market on Friday, June 7, 2024. Shareholders who are on record as owning Nvidia stock as of the close of market on Thursday, June 6, 2024, will be eligible to receive the additional shares.
Stock Split Details
Under the terms of the stock split, each eligible shareholder will receive nine additional shares of Nvidia common stock for each share they own. For example, if a shareholder owns 100 shares of Nvidia stock, they will receive an additional 900 shares after the split.
Nvidia's stock closed trading at $122.44 per share on Wednesday, June 5, 2024. If the stock had split on that day, it would have resulted in a post-split price of approximately $12.25 per share.
Reason for Split
The stock split comes amid a period of strong performance for Nvidia. The company's stock price has more than doubled over the past year, driven by growing demand for its graphics processing units (GPUs).
The stock split is intended to make Nvidia's shares more accessible to a wider range of investors, particularly those with smaller investment portfolios.
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