Tesla seeks 2nd stock split in less than 2 years KPRC2
FILE - A sign bearing the company logo outside a Tesla store in Cherry Creek Mall in Denver, Feb. 9, 2019. Tesla is looking to split its stock so that the electric vehicle maker can pay a dividend to its shareholders. The company said in a regulatory filing that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend.
A stock split does would change the price-per-stock, but not the overall value of those holdings. It can push up the price of a company's stock, at least temporarily, and the announcement did just that on Monday.Tesla Inc. said that its board has greenlighted the proposal, but that the dividend is contingent on final board approval.
up to $5 billion worth of its stock. Just three months later Tesla said that it was planning another stock sale, looking to raise up to $5 billion in that offering.Tesla follows other tech giants that have seen the price of shares vault out of reach of most investors. Alphabet, Google's parent company, announced a 20-for-1 split in February Amazon.com Inc. said this month that it would do a split of the same ratio.
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