RIM’s 3-to-1 stock split announced back after their Q1 results happened today, and price continues rising as steadily as ever. Financial analysts continue to be optimistic, some even saying that the stock could double in a year, putting it right back where we left off. The target price now sits at $95.
Big news for RIM shareholders: on top of their impressive Q1 results, RIM has announced today that their Board of Directors have approved a 3-for-1 stock split of the company’s outstanding common shares. The 3-for-1 stock split will be implemented by way of a stock dividend whereby shareholders will receive two common shares of the company for each common share held. The stock dividend will be payable on August 20, 2007 to common shareholders of record at the close of business on August 17, 2007.
RIM is ascribing essentially no monetary value to the stock dividend. Accordingly, there will be no tax payable by Canadian or U.S. shareholders as a result of the dividend. RIM’s common shares are expected to begin trading on a post-stock dividend basis on the Toronto Stock Exchange on August 15, 2007 and on Nasdaq on August 21, 2007. For more information about the split, head over to: