Reported Earlier, CIBC Announces 4-for-1 Split of Nvidia Canadian Depositary Receipts Starting July 10, 2024
Portfolio Pulse from Benzinga Newsdesk
CIBC announced a 4-for-1 split of its Nvidia Canadian Depositary Receipts (CAD Hedged) effective July 10, 2024. The split will not impact the economic value of investors' positions.
July 05, 2024 | 3:00 pm
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NEUTRAL IMPACT
CIBC announced a 4-for-1 split of its Nvidia Canadian Depositary Receipts (CAD Hedged), effective July 10, 2024. The split is not expected to have any economic impact on the value of investors' positions.
The split of Nvidia CDRs by CIBC is a significant corporate action but is not expected to have any economic impact on the value of investors' positions. This makes the short-term impact on CIBC's stock price neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
CIBC's 4-for-1 split of Nvidia Canadian Depositary Receipts (CAD Hedged) will take effect on July 10, 2024. This follows a previous ten-for-one split of Nvidia Corporation's common stock.
The split of Nvidia CDRs by CIBC is a follow-up to Nvidia Corporation's ten-for-one stock split. This action is administrative and does not impact the economic value of Nvidia's stock, making the short-term impact neutral.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60