Salesforce’s board has approved a four-for-one (4:1) split of the company’s common stock. The company will be proportionally increasing the number of authorized shares of common stock from 400 million to 1.6 billion.
Each stockholder of record at the close of business on April 3, 2013, will receive three additional shares for every outstanding share held on the record date.
Salesforce says it expects the additional shares to be distributed by the transfer agent on April 17, 2013, and that trading will begin on a split-adjusted basis on April 18, 2013.
Categories: Corporate News