Pixar Animation Studios announced today that its board of directors has approved a two-for-one split of the company's common stock and the number of outstanding shares will jump from 100 million to 200 million.
At the close of trading on April 4, 2005, shareholders of record will receive one additional share of Pixar for every outstanding share held on the record date. Trading will begin on a split-adjusted basis on April 19.
Pixar shares closed up a nickel today at $92.25. A year ago, the stock was trading at $63.10 and peaked at $95.12 in early December. After hours, shares picked up $1.19, to raise the price to $93.44.
Emeryville, California-based Pixar Animation Studios (NASDAQ: PIXR, www.pixar.com
) combines creative and technical artistry to create original, computer-animated stories. Pixar has created six of the most successful and beloved animated films of all time: TOY STORY, A BUG'S LIFE, TOY STORY 2, MONSTERS, INC., FINDING NEMO and THE INCREDIBLES. Pixar has won 18 Academy Awards and its six films have grossed more than $3.2 billion at the worldwide box office to date. The Northern California studio will release its next film, CARS, on June 9, 2006.