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Amazon Board Approves 20-to-1 Share Split, $10 Billion Redemption

Amazon Board of Directors Approved company’s first stock split in 20 years. GeekWire report: Subject to shareholder approval, the 20:1 split aims to revalue each individual stock in Amazon, recognizing a long-term rise in the company’s stock price and making it cheaper for individual investors. The changes will take effect from June if shareholders approve the spin-off at the company’s annual general meeting in May. Amazon’s Board of Directors has also approved a buyback of up to $10 billion of its common stock. The new approval replaces the previous $5 billion repurchase plan approved in 2016. Amazon bought back $2.12 billion of its shares under previous plans.

The company split its stock three times in the late 1990s, before the dot-com crash. 2:1 split in June 1998; January 1999 3:1 split; and a 2:1 split in September 1999. Amazon’s share price rose to $2,785.58 on Wednesday from $62.44 after the last split.

Amazon Board Approves 20-to-1 Share Split, $10 Billion Redemption

Source link Amazon Board Approves 20-to-1 Share Split, $10 Billion Redemption

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