Under Armour Inc.’s stock price has effectively undergone a 2-for-1 split Friday, after the athletic apparel company issued Class C shares to existing shareholders. The company announced the dividend on March 16, saying it would distribute Class C non-voting stock on a one-for-one basis to all existing holders of Under Armour common stock, which would have the same effect of a 2-for-1 split. The Class A shares were changing hands at $44.39 in premarket trade, compared with Thursday’s closing price of $85.97. The Class C shares, under the ticker “UA.C,” are still inactive premarket, and are shown to have a starting price of $41.56.
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