Tesla (NASDAQ: TSLA) plans to split TSLA shares again, in connection with which it will seek shareholder approval. This move aims to make them more affordable to retail investors.
On March 28, 2022, Tesla, Inc., in filing 8-K, announced its plan to seek shareholder approval at the upcoming 2022 Annual Shareholders Meeting for an increase in the number of authorized shares of common stock through an amendment to the Company's Amended and Restated Certificate of Incorporation (the “Amendment”) to ensure that the company's common stock is split in the form of share dividends. The manufacturer said that Tesla’s Board of Directors (“Board”) has approved the management proposal, but the stock dividend will be contingent on final Board approval. Further details of the Amendment, as well as the record date, date and location, will be later announced by the company in an official announcement regarding the Annual Meeting.
The last share split of TSLA took place in August 2020. This made them more affordable to retail investors. However, since then, the stock has risen significantly again and is now trading at over $1,000.
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