Amazon Announces 20-for-1 Stock Split, $10 Billion Share Buyback

Amazon Announces 20-for-1 Stock Split, $10 Billion Share Buyback
The Amazon logo is seen at the company's logistics center in Bretigny-sur-Orge, near Paris on Dec. 7, 2021. Gonzalo Fuentes/Reuters
Reuters
Updated:

Amazon.com Inc. said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan, sending the company’s shares up 7 percent in extended trading.

This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they hold. Trading based on the new share price will begin on June 6.