Williams-Sonoma (NYSE:WSM) stock is a hot topic on Thursday after the home products retailer announced a stock split coming next month.
According to the company, this stock split will result in it splitting each share of WSM stock into two shares. This will happen through a stock dividend that will see investors in Williams-Sonoma get one extra share for each one that they own.
Williams-Sonoma says that shareholders have to be on record as of June 27 to be eligible for the stock split. That will see them get the extra stock via the dividend when markets close on July 8.
Following that, shares of WSM stock will start trading on a split-adjusted basis on July 9. The company also notes that the stock split won’t affect voting and other rights of shareholders.
Williams-Sonoma is enacting this stock split to attract new investors. That includes making it easier for its employees to invest in WSM shares.
Williams-Sonoma Stock Split Dividend
Alongside the stock split dividend, the company also announced a quarterly cash dividend payable on Aug. 23. Shareholders on record as of July 19 will receive 57 cents per share. This is adjusted for the stock split compared to the company’s prior quarterly dividend of $1.14 per share.
WSM stock is up 2.6% as of Thursday morning.
There are plenty of other stock market stories traders are going to want to read about below!
We have all of the hottest stock market news ready to go on Thursday! Among that is what’s happening with shares of Broadcom (NASDAQ:AVGO), Tesla (NASDAQ:TSLA) and Cara Therapeutics (NASDAQ:CARA) stock today. All of that info is ready to go at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
