NAPCO Security Technologies declares 2-for-1 stock split
Dec. 07, 2021 8:27 AM ETNapco Security Technologies, Inc. (NSSC)By: Preeti Singh, SA News Editor
- NAPCO Security Technologies (NASDAQ:NSSC) has announced a 2-for-1 stock split, payable in the form of a 100% stock dividend on January 4, 2022 to all NAPCO shareholders of record (other than Treasury Shares) as of December 20, 2021.
- Consequently, investors will receive one additional share of common stock for every one share held on the record date. Post completion of the split, the total number of outstanding shares will increase from 18,353,584 to 36,707,168.
- Richard Soloway, Chairman and President, commented, "The Board believes that the 2-for-1 stock split will improve trading liquidity and broaden ownership of the Company's common shares and that the amendment gives the Board added flexibility to effect additional stock splits in the future, if warranted".
- Additionally, NAPCO shareholders have approved an amendment to its certificate of incorporation increasing the number of shares the company is authorized to issue from 40M to 100M shares of common stock, $.01 par value by share.