Mueller Industries, Inc. Announces Special Meeting To Approve Increase In Authorized Common Stock From 100M Shares To 250M Shares
Portfolio Pulse from Happy Mohamed
Mueller Industries, Inc. (NYSE:MLI) has filed a preliminary proxy statement with the SEC for a special meeting of shareholders to approve an increase in the total number of its authorized shares of Common Stock from 100 million to 250 million. The primary purpose of this amendment is to facilitate a stock split in the form of a stock dividend.
July 31, 2023 | 9:44 pm
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Mueller Industries' proposal to increase its authorized shares could lead to a stock split, which may affect the company's stock price.
Increasing the number of authorized shares is often a precursor to a stock split. If approved, this could dilute the value of existing shares, but it could also make the stock more affordable and attractive to a broader range of investors. The impact on the stock price will depend on how the market perceives this move.
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