2-For-1 Split For Pixar
Pixar’s Board of Directors has approved a two-for-one split of the company’s common stock and a proportional increase in the number of Pixar common shares authorized from 100 million to 200 million.
Shareholders of record at the close of trading on April 4, 2005 will receive one additional share of Pixar for every outstanding share held on the record date.
According to a MarketWatch article, “Shares of the Emeryville, Calif.-based company closed up a nickel at $92.25; it was trading at just $63.10 this time last year and peaked at $95.12 in early December. After hours, shares picked up another $1.19, or 1.3 percent, to $93.44.”
“The split will boost Pixar common shares outstanding to 200 million from 100 million. Shareholders of record at April 4 will receive one additional Pixar share for every share held,” says a Forbes article.
Trading will begin on a split-adjusted basis on April 19, 2005.
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