Jacobs Solutions Inc. (NYSE: J) has announced a special dividend distribution to its shareholders. Approximately 7,299,065 shares of common stock of Amentum Holdings, Inc. (NYSE: AMTM) will be distributed to Jacobs' shareholders. This represents about 3% of the total number of shares of Amentum common stock outstanding as of May 2, 2025.
Based on the number of shares of Jacobs' stock outstanding as of May 16, 2025, the record date, each Jacobs stockholder will be entitled to receive 0.060835 of a share of Amentum common stock (or cash in lieu of fractional shares) for each share of Jacobs common stock held as of the record date.
Following the distribution, Amentum common stock will continue to be listed on the New York Stock Exchange (NYSE) under the symbol AMTM, and Jacobs common stock will continue to be listed on the NYSE under the symbol J.
The distribution will be made on May 30, 2025, and no fractional shares will be distributed. Fractional shares that Jacobs' shareholders would otherwise have been entitled to receive will be aggregated and sold in the public market by the distribution agent, and the net cash proceeds of these sales will be distributed pro rata to those shareholders who would otherwise have been entitled to receive fractional shares.
Additionally, the distribution generally will be tax-free to Jacobs' shareholders for U.S. federal income tax purposes, except with respect to the receipt of cash in lieu of fractional shares of Amentum common stock.
This distribution stems from the spin-off of Jacobs' critical mission solutions business and portions of its divergent solutions business on September 27, 2024. Jacobs received the Amentum shares in connection with this spin-off.
As a result of these announcements, the company's shares have moved -0.6% on the market, and are now trading at a price of $128.08. For more information, read the company's full 8-K submission here.
