Netflix’s shares have risen two per cent in after-hour trading after its board approved a stock split.
The split will take the form of a a stock dividend, giving an extra six shares of common stock for each single outstanding common stock share.
Netflix said it would begin trading at the post-split price on 15 July this year. Any shares bought between 2 July and 14 July will come with a due bill, entitling the buyer to an extra six shares.
Shares in the US company have been growing rapidly, as it captures an ever-growing audience for its shows such as House of Cards and Orange is the New Black. It share price has almost doubled this year, meaning it’s outperformed every other company on the S&P 500.
It has 62m users across 50 countries, who watch, it says, more than 100m hours of content per day.