Six Flags plans 2-for-1 stock split
GRAND PRAIRIE, Texas (AP) — Six Flags Entertainment Corp. said Wednesday that it plans a two-for-one stock split in June.
This split means a shareholder who has one share will soon hold two, while the total value of an investment remains the same, because each share will be half of its prior price.
A stock split does not change a company's total market value, but it increases the number of shares outstanding.
The additional shares will be issued June 26 to shareholders of record as of June 12.
The amusement park company also declared a quarterly cash dividend of 90 cents per share, payable June 10 to shareholders of record as of May 30.
Six Flags, based in Grand Prairie, Texas, has 18 parks across North America.
The company's shares fell 48 cents to close at $76.52.