NVIDIA to Split Stock 4-for-1

Chipmaker NVIDIA announced that its board of directors declared a four-for-one split of NVIDIA’s common stock in the form of a stock dividend to make stock ownership more accessible to investors and employees.

Shares in NVIDIA were up 3% Monday morning to over $622. CNBC speculates the split could lead to the company being added to the Dow Jones Industrial Average in the future.

The stock dividend is conditioned on obtaining stockholder approval at the company’s 2021 Annual Meeting of Stockholders ― to be held virtually on Thursday, June 3, at 11 a.m. PT ― to increase the number of authorized shares of common stock to 4 billion shares.

If approval is obtained, each NVIDIA stockholder of record at the close of business on June 21, 2021, will receive a dividend of three additional shares of common stock for every share held on the record date, to be distributed after the close of trading on July 19, 2021. Trading is expected to begin on a stock split-adjusted basis on July 20.

NVIDIA’s 2021 Annual Meeting of Stockholders will take place virtually at www.virtualshareholdermeeting.com/NVIDIA2021. Stockholders will need their control number included in their notice or proxy card to access the meeting, and may vote and submit questions while attending the meeting. Non-stockholders are welcome to attend by going to the above link and registering under “Other Attendees.”