Nidec Announces Outlines of Planned Stock Split
Nidec Corporation (NYSE: NJ) announced Friday that the Board of Directors of the Company, at a meeting held on March 8, 2014, made the following decisions regarding a stock split and an amendment to the Company's Articles of Incorporation, as well as a modification to the Company's share repurchase program, which was adopted at the meeting of the Board of Directors on January 22, 2014.
1. Purposes of the Stock Split
The Company has decided to implement the stock split to enhance the liquidity of the Company's common stock and expand its investor base by reducing the trading price per share of the Company's common stock.
2. Outline of the Stock Split
(1) Method of the Stock Split
Each of the shares of the Company's common stock held by shareholders included or recorded in the final register of shareholders as of the record date of March 31, 2014 (Monday) will be split into two shares.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.