Nvidia Announces 4-For-1 Stock Split

NVIDIA Corp NVDA is trading higher Friday morning after the company announced a four-for-one stock split.

What Happened: Nvidia's board of directors declared a four-for-one stock split in the form of a stock dividend, citing the ability to make stock ownership more accessible for investors and employees.

See also: How to Buy NVIDIA Stock

The stock split still needs to be approved at the company’s 2021 Annual Meeting of Stockholders, which is set to take place on June 3.

Pending approval, each Nvidia stockholder of record as of June 21 will receive three additional shares of common stock for every share held on the record date. The additional shares will be distributed after the close on July 19. Trading is expected to begin on a stock split-adjusted basis on July 20.

See Also: Options Traders Bet The Bottom Is In For Nvidia's Stock

Price Action: Nvidia traded as high as $648.56 and as low as $319.87 over a 52-week period. 

At last check Friday, the stock was up 3.85% at $606.98.

Photo courtesy of NVIDIA.