Amazon.com Inc. said Wednesday its board approved a 20-for-1 split of the company's common stock.
This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they hold. Trading based on the new share price will begin on June 6.
Amazon (AMZN) closed Wednesday at $2,758.58, up 2.40% for the day. In after-hours trading, the stock was up to $1,996.00, up 6.62%.
Jeff Bezos, who founded Amazon in 1994, is executive chairman of the board. Besides Amazon executives, other directors include Keith Alexander, chair of IronNet; Edith Cooper, former EVP at Goldman Sachs; and Jamie Gorelick, a partner with Wilmer Cutler Pickering Hale and Dorr LLP.
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