In a move similar to one made earlier this year by Walmart, Williams-Sonoma announced its board of directors declared a two-for-one stock split.
Williams-Sonoma stated it would conduct the split via a stock dividend to make its shares more accessible to investors and employees.
Each stockholder of record on June 27 will receive one additional share of common stock for each share of common stock held, payable after market close on July 8, the company noted. Williams-Sonoma expects the trading of its stock on a split-adjusted basis to begin at the opening of the market on July 9.
The stock dividend will not affect voting and other stockholder rights, the company added.
In January, Walmart initiated a three-for-one stock split, saying it based the initiative on a review of optimal trading and spread levels but also to make it more attractive for workers to participate in the company’s employee stock purchase plan.
