The graphics processing unit company Nvidia (NASDAQ:NVDA) announced this morning that its board has given the green signal to a move for a four-for-one split. After the announcement was made by the company, the Nvidia stock moved as well and has recorded gains of 3% so far.
The company stated that the rationale behind the stock split was to make the ownership of shares easier for both investors as well as employees.
That being said, it should be noted that the stock dividend that was announced today will still need approval at a shareholder meeting that is going to take place on June 3. The vote is going to be on the motion of raising the number of Nvidia authorized shares of common stock to as many as 4 billion. In recent times, the company has also got a massive boost to its business through the launch of the RTX 30 series cards. Investors could consider watching the stock today.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.