05:03 AM EST, 11/21/2024 (MT Newswires) -- Palo Alto Networks ( PANW ) said Wednesday that its board of directors has approved a two-for-one forward stock split of its outstanding shares of common stock.

The stock split will increase the number of authorized shares of the company's common stock from 1 billion to 2 billion.

Each stockholder of record on Dec. 12 will receive one additional share for every share held after the close of trading on Dec. 13. Trading on a split-adjusted basis is expected to start on Dec. 16.