Netflix’s (NFLX) board of directors has approved a seven-for-one stock split, at a time when its stock is trading at all-time highs.The stock will begin trading at the post-split price on July 15. Netflix was widely expected to split its stock after announcing plans to do so in April and then gaining shareholder approval to increase its number of authorized shares this month, which is a preliminary step in a split. The last time Netflix split its stock was in 2004. The video streaming company has enjoyed tremendous success of late, with shares climbing 58% over the last 12 months and trading at about $681 per share as of Tuesday’s close. Based on this price, shares would be available for just under $100 after the split.
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