Sweden's AAK said June 8 that its shareholders authorized a 6-for-1 split of the company's outstanding common shares during its annual meeting held May 30.
As a result, shareholders of record at the close of business June 14 will receive six additional common shares for each common share held.
Outstanding common stocks of the company, which refines and sells vegetable oils for specialized products internationally, will begin trading on a split-adjusted basis June 13.
The total number of shares in AAK will increase to 253,730,934 after the split.
Stocks of the packaged foods and meats producer will automatically be adjusted for the split via Euroclear Sweden AB.
