AAON Adopts 3-For-2 Stock Split
Portfolio Pulse from Shivani Kumaresan
AAON Inc has announced a three-for-two stock split of its common stock, to be paid as a stock dividend on August 16, 2023. Stockholders of record at the close of business on July 28, 2023, will receive one additional share for every two shares they hold. The number of shares outstanding will increase from about 54.4 million to about 81.6 million. AAON held ~$3 million in cash and equivalents as of March 31, 2023.
July 07, 2023 | 12:18 pm
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AAON Inc's stock split will increase the number of shares outstanding from 54.4 million to 81.6 million. This could dilute the value of existing shares.
Stock splits often lead to a short-term decrease in the stock price due to dilution of shares. However, they can also make the stock more affordable and attractive to a broader range of investors, potentially driving up demand in the longer term.
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