Netflix is splitting its stock 7 ways

NetflixREUTERS/ Mike CasseseNetflix Chief Executive Officer Reed Hastings demonstrates how various gaming devices can be used to stream content during the launch of the Netflix streaming internet subscription service for movies and television shows to TVs and computers in Canada at a news conference in Toronto September 22, 2010.

Netflix is splitting its stock seven ways.

The company announced this in a statement Tuesday, saying the stock dividend will be payable on July 14 to those who own stocks as at July 2.

What this means is that shareholders will continue holding the same percentage stake in the company, but one share becomes seven.

Stock splits do literally nothing to change the financial or operating structures of the company.

More to come…

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