Tesla announced Monday it will ask shareholders to vote at this year’s annual meeting to authorize additional shares in order to enable a stock split.
The electric car company said its board of directors approved a proposal to enable a stock split in the form of a dividend, contingent on final board approval. After the announcement, Tesla shares increased by almost 5% in premarket trading to $1,062 a share Monday, according to The Wall Street Journal.
In what was considered a win for Tesla, the U.S. National Highway Traffic Safety Administration announced Sunday that it will bring back sharp penalties for auto manufacturers whose vehicles do not meet fuel efficiency requirements for model years 2019 and beyond, Reuters reported.
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