Deckers Brands (NYSE: DECK) has recently announced a six-for-one forward stock split, subject to stockholder approval of an amendment to the company’s certificate of incorporation. This decision comes as a result of the company's strong financial performance and strategic execution, which has led to a significant increase in the trading price of its common stock over the past several years.
If the proposal is approved at the upcoming annual meeting of stockholders on September 9, 2024, the company expects to file the charter amendment and implement the stock split promptly following the meeting. After market close on September 16, 2024, every one share of common stock outstanding on September 6, 2024, the record date for the stock split, will be split into six shares of common stock.
It is important to note that there are currently no shares of preferred stock outstanding. The trading is expected to begin on a post-stock split adjusted basis at market open on September 17, 2024, subject to final approval by the New York Stock Exchange.
Deckers Brands, a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, has a diverse portfolio of brands including UGG®, HOKA®, Teva®, Sanuk®, Koolaburra®, and Ahnu®. These products are sold in more than 50 countries and territories through various channels, including department and specialty stores, company-owned and operated retail stores, and select online stores.
The company has built a strong history over the past 50 years, successfully developing niche footwear brands into lifestyle market leaders, attracting millions of loyal consumers globally. Following these announcements, the company's shares moved 1.1%, and are now trading at a price of $898.56. For more information, read the company's full 8-K submission here.
