Companies

Deckers announces board approval of six-for-one forward stock split

Jul 15, 2024 United States

The owner of the Hoka and Ugg brands has announced that its Board of Directors has approved a six-for-one forward stock split to make its common shares stock more affordable and attractive

The board of directors of Deckers has approved a six-for-one forward stock split and a proportionate increase in the number of authorized shares of common stock and preferred stock to accommodate this split. The aim is to make common shares stock more affordable and attractive to a broader group of potential investors and to increase trading liquidity.

“The trading price of our common stock has risen significantly over the past several years as a result of our strong financial performance and the execution of our strategic plan”, commented Dave Powers, President and Chief Executive Officer.

He continued: “We believe effecting the forward stock split will make the shares of our common stock more affordable and attractive to a broader group of potential investors, including our employees, and increase the liquidity of the trading of the shares of our common stock”.

However, this will only occur if it is approved by shareholders and filed with the Secretary of State of the State of Delaware. The company intends to seek shareholder approval of an amendment to the company’s Certificate of Incorporation at its Annual General Meeting of Shareholders, to be held on the 9th of September 2024.

If the stockholders approve, Deckers expects to file the Certificate Amendment and implement the stock split and authorized share increase promptly after the 2024 Meeting.

Image Credits: deckers.com

United States Companies Deckers Footwear Management Shoes