Breaking News: Nvidia Announces Stock Split, Dividend Increase

Shares Soar as Investors Cheer

Quarterly Earnings Beat Estimates

Nvidia Corporation (NVDA) on Wednesday announced a 10-for-1 stock split that would make its shares more accessible to individual investors. The semiconductor giant also hiked its quarterly dividend by 150%, boosting investor enthusiasm.

The stock split, effective on July 20, 2023, will see investors receive 10 shares of Nvidia for each share they currently own. This move comes after Nvidia's 2-for-1 stock split in 2019, which had a similar effect in making the shares more affordable.

The company also reported strong quarterly earnings, beating analysts' estimates. Revenue for the quarter rose 53% from the previous year to $8.29 billion, while earnings per share surged 71% to $1.36. These results sent Nvidia's stock soaring as much as 3.5% at market open on Friday, setting the stage for another record high close.

Nvidia's stock split and dividend increase signal the company's confidence in its future growth prospects. The move is expected to attract a wider pool of investors and further fuel its upward momentum.

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