The Mexican-themed restaurant chain known for charging extra for guacamole is experiencing 'record revenues, profits and growth.'
Chipotle Mexican Grill is planning to lower its stock price and give more shares to its existing investors.The restaurant known for burrito bowls and charging extra for guac said this week it will conduct the company's first ever stock split. The 50-for-1 stock split needs shareholder approval first, which the company said it will seek during its annual meeting in June.
Increasing the number of shares available effectively lowers the price of the stock after a certain date — which then makes purchasing stock more affordable. Companies typically conduct stock splits to quickly infuse the organization with outside cash. Stock splits can be structured many ways — including 3-for-1, 10-for-1 or 100-for-1. In Chipotle's 50-for-1 case, anyone holding one share of the company will be awarded an additional 49 once the split is official.
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