DowDuPont Plans For Reverse Stock Split

(RTTNews) - DowDuPont Inc. (DWDP) Wednesday said its Board of Directors has approved a reverse stock split of the company's common stock and will propose it at a special stockholder meeting.

If approved, the company expects to implement the reverse stock split effective immediately following the Corteva distribution.

The reverse stock split is intended to increase the market price of DowDuPont's common stock in connection with the company's intended distribution of all of the shares of common stock of its wholly owned subsidiary Corteva, which holds the agriculture business, to the holders of DowDuPont's common stock on a pro rata basis.

If stockholders approve the reverse stock split at the May 23 meeting, the board will choose a split ratio of "not less than 2-for-5 and not greater than 1-for-3."