CHESAPEAKE, Va. — Dollar Tree on Tuesday approved a 2-for-1 stock split in the form of a 100% common stock dividend. The new shares will be distributed June 26 for shareholders of record as of the close of business on June 12.
With the stock split, the number of outstanding shares of the company's common stock will increase from approximately 116 million shares, pre-split, to approximately 232 million shares, post-split.
"Dollar Tree is committed to building value for long-term shareholders," stated Bob Sasser, president and CEO. "The stock dividend announced today is designed to increase the liquidity of the company's stock and provide a more attractive entry point for shareholders, affording the potential to broaden the shareholder base."
Dollar Tree shares were down slightly by 44 cents to $101.78 in mid-day trading.
Dollar Tree operated 4,451 stores across 48 states and five Canadian provinces as of April 28, with total retail selling square footage of 38.6 million.