Officials from publisher Activision have announced that the company’s board of directors has approved a four-for-three stock split of the company’s outstanding shares of common stock, to be effected in the form of a 33-1/3 percent common stock dividend.
The stock dividend will be payable on October 24th, and stockholders will receive one additional share of common stock for every three shares held on the record date. The company will have approximately 273,000,000 shares of common stock outstanding after the split.
"We are thrilled that Activision's record growth and investors' confidence in our future have made this possible," said Activision chairman and CEO Robert A. Kotick. "The stock split was motivated by a strong desire on our part to obtain a broader range of investors and improve the market liquidity in our stock and by our confidence that the value of our stock will continue to increase over time."
The move follows a
recent completion of a three-for-two stock split by rival THQ, who also made the move in order to help attract new investors and to increase the amount of its shares available on the market, in a relatively buoyant market for video game shares. Activision's current shares were priced at $19.87 in midday trading, down marginally on the day.
