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2021-12-18 00:52
09:56 AM EST, 12/17/2021 (MT Newswires) -- AeroCentury (ACY) said Friday it plans to file a certificate of amendment to its certificate of incorporation to implement a 5-for-1 forward stock split.
Shareholders of record as of Dec. 30 will each receive four additional common shares for each share held, the company said. The payment date will be Jan. 7, and the stock will start trading on a split-adjusted basis on Jan. 10.
AeroCentury will have about 22.1 million of issued and outstanding shares after the stock split, up from 4.4 million shares currently. The authorized shares will also be increased to 40 million shares from 13 million shares to implement the split, as approved by the board.
Shares in the aircraft leasing and financing company were 1.7% higher in recent morning trading.
Price: 41.83, Change: +0.73, Percent Change: +1.77