Activision, Inc. announces that its Board of Directors approved a four-for-three stock split of its outstanding shares of common stock to be effected in the form of a 33-1/3% common stock dividend.
The stock dividend is payable March 22, 2005, to stockholders of record at the close of business on March 7, 2005. Stockholders will receive one additional share of common stock for every three shares held on the record date. In lieu of issuing any fractional shares in connection with the split, stockholders will receive a cash payment based on the average of the high and low sales prices of the common stock on the record date, as adjusted for the split. Activision will have approximately 200,000,000 shares of common stock outstanding after the split.
“We are proud of Activision’s long-term record of revenue and earnings growth,” stated Robert Kotick, Chairman and CEO of Activision. “By increasing the total number of authorized shares available for issuance, we will improve our long-term financial flexibility.”