Amazon Announces Stock Split and Share Repurchase

Major Move for E-Commerce Giant

Amazon's board of directors has approved a 20-for-1 stock split and a $10 billion share repurchase program.

The stock split is expected to take effect on June 6, 2022. Eligible shareholders will receive 19 additional shares for each share of Amazon's stock they own as of the close of trading on the record date of May 27, 2022. The share repurchase program will allow Amazon to buy up to $10 billion of its own shares on the open market.

Amazon's stock closed on Wednesday at $2,785.58 per share. The stock split will reduce the share price to approximately $139.28 per share. The share repurchase program is designed to return capital to shareholders and reduce the number of shares outstanding.

The stock split and share repurchase program are positive news for Amazon shareholders. The stock split makes the stock more affordable for investors, and the share repurchase program reduces the number of shares outstanding, which can increase the value of the remaining shares.