Electric vehicle maker Tesla (TSLA) says it wants to split its stock so that it can begin paying dividends to shareholders, according to a new regulatory filing.
The filing with the U.S. Securities and Exchange Commission (SEC) said the electric car maker will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock ... in order to enable a stock split of the company’s common stock in the form of a stock dividend.”
Tesla shares rose 5% in pre-market trading to $1,059.00 U.S. on news of the stock split and dividend plan.
Tesla last split its stock in August 2020, when it shares were split on a 5-for-1 basis.
