Tesla board approves three-for-one stock split

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US electric carmaker Tesla said that its board has approved and declared a three-for-one split of its common stock on Saturday, converting each existing share into three new ones in a measure that makes the company more accessible to small investors. The US luxury electric car maker said that each stockholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on August 24, 2022. Trading will begin on a stock split-adjusted basis on August 25, 2022. While stock splits don’t change the m…

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