GameStop stock rallies after retailer’s board OKs 4-for-1 stock split

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Shares of GameStop Corp. rallied more than 9% in the extended session Wednesday after the gaming retailer said its board of directors approved a 4-for-1 stock split as a stock dividend. Shareholders of record on July 18 will receive a dividend of three additional shares for each their shares held, GameStop said. The stock dividend will be distributed after the close of trading on July 21, the company said. Split-adjusted trading will follow on July 22, GameStop said. The company announced the split in late March, although at that time it did not announce the ratio. It said then it was seeking “flexibility for future…

This article was originally published by Marketwatch.com. Read the original article here.

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