Apple Announces Four-for-One Stock Split
Company's Strong Earnings Drive Board Approval
Split to Increase Number of Common Shares
WEB Apple announced on Thursday that the Board of Directors has approved a four-for-one stock split. The split was originally announced on July 30 and will increase the number of common shares outstanding.
WEB The split is the fifth in Apple's history and comes after the company reported strong earnings that beat analysts' expectations. Apple is currently trading at around $400 per share, and the split is expected to make the stock more attractive to a wider range of investors.
WEB "We believe this stock split will make our stock more accessible to a broader base of investors," said Apple CEO Tim Cook. "We have always been committed to returning value to our shareholders, and we believe this split is a great way to do that."
WEB The split is expected to take effect on August 24, 2024. Shareholders of record on August 17, 2024 will receive three additional shares for each share they own.
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