Microchip Technology Announces 2-for-1 Stock Split

Rhea-AI Summary

Microchip Technology, a leader in embedded control solutions, announced a 2-for-1 stock split effective for stockholders of record after the market closes on October 4, 2021. This split aims to enhance trading liquidity and make shares more appealing to retail investors. Shareholders will receive one additional share for each share held on October 12, 2021. The adjusted shares and per-share price will be reported by Nasdaq on October 13, 2021.

Positive

• Stock split aims to increase trading liquidity.
• Attractive trading range for retail investors.

Negative

• None.

CHANDLER, Ariz., Aug. 25, 2021 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, announced today a 2-for-1 stock split. The stock split is being implemented to increase trading liquidity and to place the stock in a more attractive trading range for retail investors. The stock split will be effective for stockholders of record after the market closes on October 4, 2021. Additional shares will be issued to stockholders of record on October 12, 2021 at the rate of one additional share for every one share held. The adjusted number of shares outstanding and adjusted per-share stock price will be reported by Nasdaq effective October 13, 2021.

Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

Note: The Microchip name and logo are registered trademarks of Microchip Technology Inc. in the USA and other countries.

INVESTOR RELATIONS CONTACT:
J. Eric Bjornholt – CFO.................................... (480) 792-7804

FAQ

What is the significance of the stock split announced by MCHP?

The 2-for-1 stock split is intended to increase trading liquidity and make shares more attractive to retail investors.

When will the stock split for MCHP be effective?

The stock split will be effective for stockholders of record after the market closes on October 4, 2021.

What date will shareholders receive the additional shares for MCHP?

Shareholders will receive one additional share for each share held on October 12, 2021.

When will Nasdaq report the adjusted shares and stock price for MCHP?

Nasdaq will report the adjusted shares and per-share stock price on October 13, 2021.