By Kathryn Hardison
Tesla Inc.'s board of direction has approved a three-for-one stock split, which the company says will make stock ownership more accessible to employees and investors.
The electric vehicle company said Friday that each stockholder of record on Aug. 17 will receive a dividend of two additional shares of common stock after close of trading on Aug. 24.
Trading will begin on a stock split-adjusted basis on Aug. 25.
The company had 1.04 billion outstanding shares as of Friday, according to FactSet.
The company's share price was little changed in after-hours trading.
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(END) Dow Jones Newswires
August 05, 2022 16:50 ET (20:50 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.