(Bloomberg) -- Tesla Inc. rose in early trading after the carmaker said it plans to seek shareholder approval for a move that would enable another stock split.
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The company said in a tweet early Monday that it will ask shareholders to vote at this year’s annual meeting on whether to authorize additional shares. In a follow-up regulatory filing, Tesla said amending its certificate of incorporation to increase its amount of common shares will enable a split in the form of a stock dividend.
Although Tesla’s board of directors has approved a management proposal, the dividend is contingent on final board approval, the company said in its filing. Tesla shares surged as much as 5.4% to $1,065 before the start of regular trading. The stock soared after the company last announced a split in August 2020.
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