Publix plans stock split

Move will lower prices for shares owned by employees

Publix has approved a move that will lower the cost of its employee-owned shares.

The Lakeland-based grocery store chain revealed the stock split Friday. For each share of stock someone owns, they will receive four additional shares.

The stock split will be effective at the close of business April 14.

The company’s stock will then trade at a split-adjusted price of $13.76 per share, a news release said. The company’s stock price had grown to $68.80 per share in March.

The change allows Publix employees to buy five shares for the old price of one, spokeswoman Maria Brous said.

“While a stock split does not affect the total value of the stock, Publix has a number of associates who attach significance to holding more shares and being able to buy a share for less money,” Brous said.

The company increased its authorized shares of common stock from 1 billion to 4 billion shares, the news release said. Brous said this increase was sufficient to do the stock split as there are about 680 million shares currently outstanding.

Publix is a privately held company, and its stock is only available to employees and board of directors.

The company’s sales grew to $48 billion last year, up 7% from $44.9 billion in 2020. Publix has nearly 1,300 stores across seven states and has more than 230,000 employees.