Shares of Tesla jumped Monday after the electric car maker announced its second stock split in less than two years.
The company said in a regulatory filing, and also in a tweet, that it plans to make a request at an upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend.
And the company is growing. CEO Elon Musk opened Tesla's first European factory last week, a"Gigafactory"in Germany that will employ 12,000 people and produce 500,000 vehicles a year. Tesla said that its board has greenlighted the proposal, but that the dividend is contingent on final board approval.
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Tesla Shares Jump As Electric Car Maker Seeks Stock SplitI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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