Corteva’s board has approved the separation of its seed operating segment into a new publicly traded company, Vylor Inc., and set a timeline for the distribution.
The company declared a pro rata dividend of all outstanding Vylor shares to Corteva stockholders of record at the close of business on Sept. 24, 2026. Investors will receive one share of Vylor common stock for every share of Corteva common stock they hold on that date.
The distribution is expected to take place before 9:30 a.m. New York time on Oct. 1, 2026. Corteva said holders of record do not need to take any action to receive the shares.
Trading in Vylor on a when-issued basis is expected to begin on the NYSE on Sept. 25 under the symbol “VYLR WI” and continue through Sept. 30. Regular-way trading in Vylor is expected to begin Oct. 1 under the symbol “VYLR.”
Starting Sept. 25 and running through Sept. 30, Corteva shares are expected to trade in two markets on the NYSE: regular-way shares under “CTVA,” with entitlement to Vylor shares, and ex-distribution shares under “CTVA WI,” without that entitlement.
Corteva said the separation is intended to be tax-free to stockholders for U.S. federal income tax purposes, except for cash paid in lieu of fractional shares.
The company will also host an investor day on Sept. 15 in two parts. At 9:00 a.m. EDT, Corteva will introduce Vylor as a standalone seed and genetics company. At 1:00 p.m. EDT, it will outline its future strategy after the separation. The market has reacted to these announcements by moving the company's shares -0.68% to a price of $81.9775. For more information, read the company's full 8-K submission here.
