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The 2-for-1 Nike stock split date has arrived, and here's what investors need to know.
After the stock market close on Wednesday, Dec. 23, Nike will provide investors with two shares of Nike Inc. (NYSE: NKE) for every one they already hold.
The Nike stock split is payable to shareholders of record as of Dec. 9. Shares will begin trading at the post-split price on Dec. 24.
With the split, Nike shares will become much more affordable to investors. A 2-for-1 stock split halves the price of shares. That means Nike shares will trade around $65 post-split, based on today's midmorning session price of $130.
The deal will increase the amount of both Class A and Class B shares on the market. After the Nike stock split, there will be 353 million Class A shares and 1.36 billion Class B shares on the market.
This marks the seventh time in Nike's storied history it has split shares. The last Nike stock split was in December 2012. To date, all Nike stock splits have been 2-for-1.
While the Nike stock split will have the biggest impact on NKE shareholders, it will also have an impact on the Dow Jones Industrial Average…
How the Nike Stock Split Affects the Dow
When the Nike stock price changes on Dec. 23, Nike's weighting on the price-weighted Dow Jones Industrial Average will be reduced.