Nintendo has announced a stock split that will significantly increase the amount of shares available to investors.
Nintendo is preparing a stock split that will widen share volume to 1.29 billion outstanding shares, which will lower share prices and allow more investors to buy company stock. Nintendo shares are currently trading at 57,250 yen on the Tokyo Stock Exchange, or roughly $442.
The split will take place on September 30, 2022, and on that date common stock held by shareholders will be divided into 10 shares. Nintendo's board has authorized the company to issue a total of 4 billion shares.
The games-maker notes the split is designed "to reduce the minimum investment price through the stock split, thereby increasing the liquidity of the company's shares and further expanding the investor base."
Nintendo is also adjusting dividend calculations by 1/10th of the current procedures.
"The end of 2nd quarter (interim) dividend per share is calculated by dividing 33% of consolidated operating profit by the total number of outstanding shares, excluding treasury shares, as of the end of the six-month period rounded up to the 1 yen digit."
