Nvidia Announces Stock Split, Dividend Hike
10-for-1 split, 150% dividend increase
Nvidia announced a 10-for-1 stock split on Wednesday, making its shares more affordable for investors.
The company also increased its quarterly dividend by 150%, from $0.04 to $0.10 per share.
The stock split will take effect on June 19, and the dividend increase will take effect on June 23.
Nvidia shares have gained 540% since early last year, driven by triple-digit revenue and profit growth.
The company, led by Chief Executive Jensen Huang, is a leader in the market for graphics processing units (GPUs), which are used in gaming, data centers, and other applications.
The 30-member Dow is a price-weighted index, so Nvidia's current price would make it twice the size of the next-largest company in the index.
Nvidia reported earnings per share of $6.12 and sales of $26 billion for the three-month period ended in January.
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