Deckers Brands (NYSE: DECK) has announced that its stockholders have approved a six-for-one forward stock split, along with a proportionate increase in the number of authorized shares of its common stock. The stock split became effective upon filing on September 13, 2024.
As a result of the stock split, every one share of common stock outstanding on September 6, 2024, the record date for the stock split, was split into six shares of common stock. The additional shares of common stock are expected to be distributed after market close on September 16, 2024, with trading expected to begin on a post-stock split adjusted basis at market open on September 17, 2024.
Deckers Brands is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories developed for both everyday casual lifestyle use and high-performance activities. The company's portfolio of brands includes UGG®, HOKA®, Teva®, Koolaburra®, and Ahnu®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, company-owned and operated retail stores, and select online stores, including company-owned websites.
This announcement reflects the company's belief that the stock split will make ownership of its stock more affordable and attractive to a broader group of investors, including employees. Following these announcements, the company's shares moved 1.7%, and are now trading at a price of $935.07. If you want to know more, read the company's complete 8-K report here.
