04 Mar. 2010
H&M PROPOSES STOCK SPLITThe Board of Directors at H&M is hoping to carry out a two-for-one stock split to make shares more tradable for investors. The retailer Hennes & Mauritz AB said on Wednesday it will propose the stock split at the company’s annual general meeting on April 29. The two-for-one plan suggests each existing share will be divided into two new shares of the same class of shares. As a result, the number of shares in the company will increase from 97,200,000 A-shares and 730,336,000 B-shares to 194,400,000 A-shares and 1,460,672,000 B-shares, respectively. Should the board’s proposal be accepted at the general meeting, a dividend for 2009 will be paid on May 7. Only after this payment will the stock split become effective, which the company believes will take place from May 20 to Jun. 18. Hennes & Mauritz AB was founded in Sweden in 1947 and is quoted on the NASDAQ OMX Stockholm. The group operates about 2,000 stores in 36 markets.
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