money
Chipotle shareholders qualify for 50-to-1 stock split by end of Tuesday
Chipotle investors holding stock after Tuesday are in line for a split.
Published June 17, 2024 at 5:04pm by James Powel
Investors Bite into Chipotle's Historic Stock Split, As Shares Serve Up Tasty Returns
Chipotle Stock Split:
- Shareholders of record on June 18 will be included in Chipotle's 50-for-1 stock split, the first in the company's history and one of the largest ever.
- Aim: to improve stock affordability for employees and a broader range of investors, per CFO Jack Hartung. https://ir.chipotle.com/2024-06-06-CHIPOTLE-SHAREHOLDER-APPROVAL-PAVES-WAY-FOR-HISTORIC-50-FOR-1-STOCK-SPLIT
- Investors holding stock by EOD Tuesday, June 18, will have their shares split.
- For every share held, 49 additional shares will be received after the June 25 close, with trading on this basis from June 26.
Chipotle's Stock Performance & Earnings:
- Stock closed at $3,365.46 Monday, up 2.87%.
- If the split occurred at Monday's close, share value would be ~$67.
- Chipotle reported strong Q1 results in April: revenue of $2.7 billion and a 16.3% operating profit margin. https://ir.chipotle.com/2024-04-24-CHIPOTLE-ANNOUNCES-FIRST-QUARTER-2024-RESULTS
- 47 new restaurants opened in Q1, with 43 featuring "Chipotlane" drive-thrus.
Read more: Chipotle stock split: Investors who hold shares by end of Tuesday included in rare 50-for-1 split