Fortinet Inc. is set to implement a five-for-one stock split on June 22, 2022, marking its second split since 2011. This announcement comes alongside an $830 million share buyback to enhance shareholder value, supported by a strong financial position with $2.11 billion in cash reserves as of March 31, 2022. The company's stock has seen a substantial 710% return over the past five years, alongside a 32% revenue growth to $3.6 billion, reinforcing Fortinet's status as a leader in the cybersecurity market.
“Fortinet · intends to implement · five-for-one forward stock split · on Jun 22”
“Fortinet · is the second time · splitting its common stock · since 2011”
“Fortinet · has authorized · a share buyback · approximately $830 million”
“Each Fortinet shareholder · will receive · four additional shares · for every share held”
“Fortinet’s shares · have returned · 710% · in the past five years”
“The company’s cash and cash equivalents and short-term investments · amounted to · $2.11 billion · as of Mar 31, 2022”
“The company’s cash and cash equivalents and short-term investments · were up from · $1.32 billion · as of Dec 31, 2021”
“Fortinet · generated · $396.1 million of cash · from operations in first-quarter 2022”
“Fortinet’s free cash flow balance · was · $273.5 million · at the end of March”
“Fortinet Inc. · plans to implement · five-for-one stock split · June 22”
“Fortinet · intends to implement · five-for-one forward stock split · on June 22, 2022”
“Fortinet · previously disclosed · the stock split · on April 22, 2022”