Tesla announces five-for-one stock split, share prices jump higher

Tesla this afternoon announced in a regulatory filing it will soon undergo a five-for-one split of the automaker’s common stock (TSLA).

With share prices recently as high as $1,794.99, the move is intended to make stock ownership more accessible to the average investor. The split will come in the form of a dividend of four additional shares to existing shareholders as of August 21, 2020. Those will be distributed after the market’s close on August 28, 2020.

Here is a copy of the full statement released via Tesla’s investor website:

Tesla, Inc. (“Tesla”) announced today that the Board of Directors has approved and declared a five-for-one split of Tesla’s common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record on August 21, 2020 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on August 28, 2020. Trading will begin on a stock split-adjusted basis on August 31, 2020.

After the news was released, Tesla shares were up nearly 8% higher in after-hours trading.

Tesla shares after stock split announcement

Make sure you’re following us on Twitter for all the latest Tesla news.

Are you buying a Tesla? If you enjoy our content and we helped in your decision, use our referral link to get a three month trial of Full Self-Driving (FSD).
Previous Article

Tesla makes changes to its Destination Charging Program

Next Article

Large expansion of EV charging network coming to Oakville

You might be interested in …