04:38 PM EDT, 09/13/2024 (MT Newswires) -- Deckers Brands (DECK) late Friday said shareholders earlier this week approved a resolution authorizing a 6-for-1 forward stock split and a proportionate increase in the number of common shares outstanding.

Chief executive officer Stefano Caroti said the stock split scheduled to take effect after the close of Monday's regular trading session will make its shares more affordable and attractive to investors, including employees of the footwear company.

Deckers shares closed Friday at $937.07, which would become $156.19 a share following Monday's scheduled split. The company's market capitalization will not change because of the stock split.

Shareholders of record on Sept. 6 will receive five additional shares for each share they now own. The stock is expected to begin trading on a stock-adjusted basis next Tuesday, Deckers said.

Deckers shares were 1% higher during Friday's extended session.

Price: 942.80, Change: +7.73, Percent Change: +0.83