NFLX Stock Split Date
LOS GATOS, Calif. , June 23, 2015 /PRNewswire/ -- Netflix, Inc. (Nasdaq: NFLX) announced today that its Board of Directors has approved a seven-for-one stock split to be effected in the form of a stock dividend of six additional shares of common stock for each outstanding share of common stock. The company last split its stock in February 2004 with a 2-for-1 deal when shares were trading for a non-split adjusted price of roughly $73 a share. The additional shares following this latest split will be payable on July 14 to investors who owned the shares as of the close on July 2. Netflix's board of directors approved the stock split which will give each shareholder six additional shares of common stock for each share of the company they own. The stock dividend will be payable on July 14, 2015 to all shareholders of record as of the close of business on July 2, 2015. Typically, companies split their stocks when the price becomes quite high. Netflix closed at $681.19 a share on Tuesday and rallied more than 2% in after-hours trading. The stock is up 55% over the past 12 months, and a massive 99% year-to-date. According to our Netflix stock split history records, Netflix has had 2 splits. Netflix (NFLX) has 2 splits in our Netflix stock split history database. The first split for NFLX took place on February 12, 2004. This was a 2 for 1 split, meaning for each share of NFLX owned pre-split, the shareholder now owned 2 shares. The stock dividend will be payable on July 14, 2015 to all shareholders of record as of the close of business on July 2, 2015. The company's transfer agent Computershare Trust Company will deliver the new shares. Netflix will start trading at its post-split price on July 15, 2015. On Tuesday, shares of Netflix were trading right around $700 a share, so in about three weeks, Netflix shares will be trading around $100. After the news of the Netflix stock split, shares were up around 2% in early trade on Wednesday. Netflix will start trading at its post-split price on July 15, 2015. All shares purchase between July 2 and July 14 will come with a due-bill that will entitle the shareholder to six additional shares. Netflix received approval to increased its share issuance allowance in May. Netflix's 7-for-1 stock split will probably boost the price of the stock. And this makes literally no sense. On Tuesday evening, Netflix announced that shareholders on July 14 will get seven shares of the company for every one share of the company they own as of July 2. Typically, companies split their stocks when the price becomes quite high. Netflix closed at $681.19 a share on Tuesday and rallied more than 2% in after-hours trading. The stock is up 55% over the past 12 months, and a massive 99% year-to-date. Here's a chart of the rally this year:
July 14, 2015 