trending Market Intelligence /marketintelligence/en/news-insights/trending/wSothx1D7o5pihZC3-Z-4w2 content esgSubNav
In This List

Facebook to issue new class of stock as dividend, keep Zuckerberg in control

Blog

Global smart TV forecast return to growth in 2022, sustained through 2026

Blog

Japan M&A By the Numbers: Q1 2022

Blog

Insight Weekly: Private equity slows; SPAC underwriters retreat; carbon capture boost

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion


Facebook to issue new class of stock as dividend, keep Zuckerberg in control

is creating a new classof non-voting capital stock, known as Class C capital stock.

If theproposal is approved at the company's June 20 stockholders meeting, the social networkinggiant intends to issue two shares of class C capital stock for each outstandingshare of the company's class A and class B common stock, executed as a one-timestock dividend.

Founderand CEO Mark Zuckerberg said in an April 27 note to stockholders that the creationof a new class of stock would help him keep founder control of Facebook, addingthat he and his wife Priscilla Chan "will be able to give our money to fundimportant work sooner."

In December2015, Zuckerberg announced plansto give away nearly all of his Facebook stock over the course of his life to furtherpromote philanthropic work.

Facebookshares were up almost 9% in April 27 after-hours trading as the company also reportedits quarterly results.