CF Industries Holdings Inc (CF), a maker of nitrogen fertilizers and related products, on Friday announced a five-for-one split of its common stock to be effected in the form of a stock dividend.
Stockholders of record as of the close of business on June 1 will receive four additional shares for each share they own, the company said, adding that shares issued pursuant to the stock split will be distributed on June 17.
The company expects its stock to begin trading on a split-adjusted basis on June 18.
"Today's announcement is the result of CF Industries' strong financial and share price performance and reflects our outlook for the future growth in shareholder value," said CEO Tony Will.
This will be the company's first stock split since its initial public offering in 2005.
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