Tesla, Inc states, "Each stockholder of record on August 21, 2020 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on August 28, 2020."
I'm a bit confused by this statement. It sounds to me like one has to be a shareholder on or before the 21st of August to realize the split. What happens to any shares that are purchased between the 21st and the 28th?
One additional question: How are fractional shares handled with the split? If one owns 1/5 of a share before the split, one will then own an entire share after?
Thank you for any feedback.
I'm a bit confused by this statement. It sounds to me like one has to be a shareholder on or before the 21st of August to realize the split. What happens to any shares that are purchased between the 21st and the 28th?
One additional question: How are fractional shares handled with the split? If one owns 1/5 of a share before the split, one will then own an entire share after?
Thank you for any feedback.