By Stephen Nakrosis
O'Reilly Automotive on Thursday said its board approved a 15-for-1 stock split, which is subject to shareholder approval.
The purpose of the split is to assist team members who wish to take advantage of the company's employee stock purchase benefits, the company said.
O'Reilly said it plans to seek shareholder approval the upcoming annual meeting on May 15.
If the amendment is approved and the stock split is effected, shareholders of record as of June 2 will receive fourteen additional shares of common stock for each share held after market close on June 9. The company said its shares are expected to begin trading on a post-split basis at the market open on June 10.
O'Reilly Automotive last split is stock in 2005, it said, adding since then its share price has increased over 4,330%, or approximately 21% on an annualized basis.
The company's stock finished Thursday's regular session with a loss of 1.5%, closing at $1,289.49.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 13, 2025 17:29 ET (21:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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