Chipotle Mexican Grill, Inc. (NYSE: CMG) has announced a significant 50-for-1 stock split, one of the largest in the history of the New York Stock Exchange (NYSE). This decision, approved by shareholders at the annual meeting, aims to make the company’s stock more accessible to both employees and a broader range of investors. The move reflects Chipotle’s strong performance and commitment to rewarding its team members.
The stock split means that for every share of Chipotle stock owned by investors of record on June 18, 2024, they will receive 49 additional shares. These additional shares will be distributed after the market closes on June 25, 2024, and trading will begin on a post-split basis when the market opens on Wednesday, June 26, 2024. This adjustment dramatically increases the number of outstanding shares, effectively reducing the price per share while maintaining the overall market capitalization of Chipotle Mexican Grill.
Chipotle Mexican Grill Logo: Announcing 50-for-1 Stock Split on NYSE
According to Jack Hartung, Chief Financial and Administrative Officer at Chipotle, the stock split is intended to benefit both employees and investors. “We believe the stock split will make our stock more accessible to our employees as well as a broader range of investors,” Hartung stated. This initiative empowers Chipotle’s workforce by enabling more employees to participate in company ownership. To further emphasize this commitment, Chipotle has announced a special one-time equity grant for all restaurant general managers and crew members who have dedicated over 20 years of service to the company. This grant serves as a commemoration of the stock split and a recognition of the hard work and dedication of Chipotle’s employees.
Chipotle Mexican Grill prides itself on cultivating a better world through responsibly sourced, real food. Operating nearly 3,500 restaurants across the United States, Canada, the United Kingdom, France, Germany, and Kuwait, Chipotle stands out as the only restaurant company of its size that owns and operates all of its restaurants in North America and Europe. The company’s commitment extends beyond its food to its business practices, earning recognition on the Fortune 500 list, Fortune’s Most Admired Companies 2024, and Time Magazine’s Most Influential Companies. With a workforce exceeding 120,000 employees, Chipotle is focused on providing an exceptional guest experience and continues to lead in digital innovation, technology, and sustainable practices within the food industry.
This stock split marks a historic moment for Chipotle Mexican Grill, aligning financial strategy with employee appreciation and broader investor accessibility. It underscores the company’s confidence in its future performance and its dedication to sharing its success with its employees and the investment community. For more information about Chipotle Mexican Grill and to explore their offerings, visit WWW.CHIPOTLE.COM.
