The board of directors at Pixar Animation Studios has approved a two-for-one split of the company’s common stock and authorized a proportional increase in the number of common shares from 100 million to 200 million.
Shareholders of record at the close of trading on April 4, 2005 will receive one additional Pixar share for every outstanding share held on the record date. Trading will begin on a split-adjusted basis on April 19, 2005.
Pixar, whose six films have grossed more than $3.2 billion at the worldwide box office, is riding high on the phenomenal theatrical and home video success of The Incredibles, its latest CG feature produced in association with the Walt Disney Co. The last film under the Disney partnership, Cars, is set to arrive in theaters in on June 9, 2006.