Vancouver-based Barrett Business Services Inc. announced Tuesday its board of directors declared a four-for-one split of the company’s common stock.
Each stockholder, as of June 14, will receive a dividend of three additional shares of common stock for each share they hold, to be distributed on June 21, the company said. Trading will resume on a stock split-adjusted basis on June 24.
BBSI sells business management services to small businesses around the country.
The stock split is expected to improve the overall trading efficiency of BBSI’s stock, the company said. BBSI also expects the move to make stock ownership more accessible to a broader range of investors.
As of May 31, BBSI had 6,507,409 shares of common stock outstanding. Following the stock split, BBSI will have approximately 26 million shares of common stock outstanding. Earnings per share for the second quarter of 2024 will be reported on a split-adjusted basis.
