By Ben Glickman


Nvidia more than doubled its quarterly dividend and said it would enact a stock split to make its shares more accessible.

The chipmaker declared a dividend of 10 cents a share, up from its previous dividend of 4 cents a share.

Nvidia also announced a 10-for-1 forward stock split, after which the dividend would be 1 cent a share.

The new payout, equal to 40 cents a year, represents an annual yield of 0.04% based on Nvidia's Wednesday closing price of $949.50.

The company said that the split was meant to make ownership of its shares more accessible to employees and investors.

The dividend will be paid after the split becomes effective, which is expected June 10.


Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

05-22-24 1655ET