Gilead Board Approves Two-for-One Stock Split
Gilead Sciences, (Nasdaq: GILD) announced today that its Board of Directors has approved a two-for-one stock split of the company's outstanding common stock to be effected through a stock dividend. Stockholders of record as of the close of business on January 7, 2013 will be entitled to a stock dividend of one additional share of common stock for every share of common stock they own. Based on the total number of shares of common stock outstanding as of November 30, 2012, the stock split will increase the total number of shares of common stock outstanding from approximately 759,335,932 to 1,518,671,864, out of the 2,800,000,000 shares of common stock currently authorized.
The company's transfer agent, Computershare Shareowner Services LLC, has been instructed to mail a Direct Registration Transaction Advice for the additional shares to stockholders that have physical possession of their stock certificates on January 25, 2013. Stockholders who hold their stock in a brokerage account will receive their new shares through their broker dealer on or about the same date.
The company's stock will begin trading at the post-split price on January 28, 2013. Any shares purchased after January 7, 2013 through January 28, 2013 will come with a "due-bill" entitling the buyer to one additional share for each share purchased.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.