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Fastenal’s board of directors has approved a two-for-one split of the company’s outstanding common stock, the company announced Wednesday.
The Minnesota-based distributor said that the split would take place through an amendment to the company's “Restated Articles of Incorporation,” which would also result in a “proportionate increase” in the number of shares of its authorized common stock.
Fastenal shareholders will receive one additional share for every share they own at the close of business on May 5; the split will be effective at the end of business on May 21, and trading is slated to begin on a split-adjusted basis “on or about” May 22.
Fastenal ranked at no. 4 on ID’s 2024 Big 50 list.
