Netflix board approves a seven-for-one stock split

By Reuters

Jun 23, 2015 07:01 PM EDT

Netflix Inc (NFLX.O) said on Tuesday its board of directors approved a seven-for-one stock split.

The split will be effected in the form of a stock dividend of six additional shares for each outstanding share, the company said in a statement.

The stock dividend will be payable on July 14 to stockholders of record at the close of business on July 2.

Earlier this month, Netflix shareholders approved raising the company's share authorization by nearly 30 times to 5 billion.

The company's shares were up 2.6 percent at $698.71 in trading after the bell.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics