AI Stocks in Play - NVIDIA Corporation (NASDAQ: NVDA) Stock Splits - what's next for AI Leader?
June 10, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, including AI stocks reports on trading of AI leader, NVIDIA Corporation (NASDAQ: NVDA) following its 10-1 split.
NVIDIA announced a ten-for-one forward stock split of NVIDIA's issued common stock to make stock ownership more accessible to employees and investors. The split will be effected through an amendment to NVIDIA's Restated Certificate of Incorporation, which will result in a proportionate increase in the number of shares of authorized common stock. Each record holder of common stock as of the close of market on Thursday, June 6, 2024, will receive nine additional shares of common stock, to be distributed after the close of market on Friday, June 7, 2024.
Trading of the stock split began today and the stock is down marginally its first day, trading at $120.66, down -0.23, with a day's range of $117.01 - $121.25 ,
With NVIDIA beating earnings expectations its last two quarters , this new price range opens up the door for a new group of retail investors betting on the future of AI.
NVIDIA is increasing its quarterly cash dividend by 150% from $0.04 per share to $0.10 per share of common stock. The increased dividend is equivalent to $0.01 per share on a post-split basis and will be paid on Friday, June 28, 2024, to all shareholders of record on Tuesday, June 11, 2024.
Read the company's full news and disclaimer here:
https://nvidianews.nvidia.com/news/nvidia-announces-financial-results-for-first-quarter-fiscal-2025
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