CHESAPEAKE, Va. — Dollar Tree here said its board of directors has approved a 2-for-1 stock split that it said would increase liquidity and entice new investors.
The new shares will be distributed in the form of a 100% common stock dividend on June 26, for shareholders of record as of the close of business on June 12. With the stock split, the number of outstanding shares of the company’s common stock will increase from 116 million shares to approximately 232 million shares.
“Dollar Tree is committed to building value for long-term shareholders,” Bob Sasser, president and chief executive officer. “The stock dividend announced today is designed to increase the liquidity of the company’s stock and provide a more attractive entry point for shareholders, affording the potential to broaden the shareholder base.”
Dollar Tree stock has been trading at over $100 a share and earlier this month traded at a 52-week high of $104.08. The company operates 4,451 discount stores in the U.S. and Canada.