Tenet Healthcare Corp. yesterday began trading common stock on a split-adjusted basis on the New York Stock Exchange. The new CUSIP number for Tenet’s common stock will be: 88033G 407.
The stock-split lessens the number of outstanding shares from about 418 million to roughly 104.5 million. Authorized common stock shares were proportionately decreased from 1.05 billion shares to 262.5 million shares.
Fractional shares were not issued in connection with the split. Shareholders who would otherwise get a fractional share will now receive a cash sum based on the closing price of Tenet common stock on the NYSE as of October 10.
The Dallas-based company announced earlier this month that every four shares of issued and outstanding common stock would be exchanged for one share of issued and outstanding common stock, with no change in the par value per share.