Stock split for Fastenal
Shareholders as of May 2 will receive an additional share of common stock.
Fastenal announced that its board of directors approved a two-for-one stock split of the company’s outstanding common stock.
Holders of the company’s common stock of record at the close of business on May 2 will receive one additional share of common stock for every share of common stock they own. The stock split will take effect at the close of business on May 22.
Shares of Fastenal closed at $71.08 on April 19, up $0.95 from the April 18 closing price of $70.13.
Earlier this month the wholesale distributor of industrial and construction supplies, reported first quarter 2019 net sales of $1.3 billion – a 10.4% increase from net sales of nearly $1.2 billion in the first quarter 2018.
The Winona, Minn.-based company also reported first quarter net earnings increased 11.4% to $194.1 million from net earnings of $174.3 million for the same period a year ago.
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