O’Reilly Automotive announces 15-for-1 split of its common stock

O’Reilly Automotive (ORLY) announced that its board of directors approved a 15-for-1 split of its common stock, to be effected in the form of a one-time special stock dividend. The stock split is subject to shareholder approval of an amendment to O’Reilly’s Articles of Incorporation to increase the number of authorized shares of common stock to accommodate the stock split. O’Reilly intends to seek shareholder approval for this amendment at its upcoming annual meeting on May 15. If the amendment is approved and the board proceeds with the stock split, shareholders of record as of June 2 will receive fourteen additional shares of common stock for each share held, which will be distributed after market close on June 9. O’Reilly’s shares are expected to begin trading on a post-split basis at the market open on June 10.