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DowDuPont Stockholders Approve Reverse Stock Split

Stockholders approved the reverse stock split at a ratio of not less than 2-for-5 and not greater than 1-for-3.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

DowDuPont Inc. announced at its special meeting of stockholders that its stockholders approved a reverse stock split of the company’s common stock. With approximately 2 billion eligible votes cast, stockholders voted approximately 97% in favor of the reverse stock split. Stockholders approved the reverse stock split at a ratio of not less than 2-for-5 and not greater than 1-for-3, with an exact ratio as may be determined by the Board of Directors.
 
The reverse stock split is intended to increase the market price of DowDuPont’s common stock in connection with the company’s intended distribution of all of the shares of common stock of its wholly owned subsidiary, Corteva, Inc., which holds the company’s Agriculture Business, to the holders of the company’s common stock on a pro rata basis.
 
The company confirmed that it will change its name from “DowDuPont Inc.” to “DuPont de Nemours, Inc.,” doing business as “DuPont,” on June 1 in connection with the intended Corteva distribution. The company’s common stock is expected to trade on the New York Stock Exchange (NYSE) under the ticker symbol “DD” beginning on June 3, 2019.
 

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