This week brings seven US-listed stock splits of $2 billion or more, two initial public offerings (IPOs) expected on US exchanges, and 21 S&P 500 companies trading ex-dividend. The largest split by market value is Southern Copper Corporation's, while the week's dividend calendar spans names from Citigroup to Pfizer.
Stock splits
Seven stock splits of $2 billion or more in market value take effect this week. Southern Copper Corporation splits 5053-for-5000 on Tuesday, while Thursday brings six exchange-traded fund (ETF) splits: the iShares MSCI USA Quality Factor ETF and the iShares MSCI USA Momentum Factor ETF each split 4-for-1, the iShares Semiconductor ETF, the iShares U.S. Aerospace & Defense ETF and the iShares MSCI EAFE Growth ETF each split 3-for-1, and the iShares MSCI EAFE Value ETF splits 2-for-1.
A stock split increases the number of shares a holder owns while lowering the price of each share by the same proportion. The total value of the holding does not change as a result of a split.
| Day | Stock | Company | Ratio | Type | Market value |
|---|---|---|---|---|---|
| Tue, Nov 3 | SCCO | Southern Copper Corporation | 5053-for-5000 | Split | $149.90 billion |
| Thu, Nov 5 | QUAL | iShares MSCI USA Quality Factor ETF | 4-for-1 | Split | $48.06 billion |
| Thu, Nov 5 | SOXX | iShares Semiconductor ETF | 3-for-1 | Split | $43.66 billion |
| Thu, Nov 5 | EFV | iShares MSCI EAFE Value ETF | 2-for-1 | Split | $30.47 billion |
| Thu, Nov 5 | MTUM | iShares MSCI USA Momentum Factor ETF | 4-for-1 | Split | $27.35 billion |
| Thu, Nov 5 | ITA | iShares U.S. Aerospace & Defense ETF | 3-for-1 | Split | $12.23 billion |
| Thu, Nov 5 | EFG | iShares MSCI EAFE Growth ETF | 3-for-1 | Split | $10.68 billion |
Source: Stock split calendar, US-listed companies worth $2 billion or more
IPOs expected this week
Two initial public offerings (IPOs) are expected on US exchanges this week. Narragansett Bancorp, Inc. is expected to list on the Nasdaq on Monday, and Deep Sea Minerals Corp. is expected to list its American Depositary Shares on the Nasdaq on Tuesday.
Expected dates can move before an offering actually prices.
| Expected | Ticker | Company | Exchange | Price range | Shares |
|---|---|---|---|---|---|
| Mon, Nov 2 | NARA | Narragansett Bancorp, Inc. | NASDAQ | — | — |
| Tue, Nov 3 | SEAM | Deep Sea Minerals Corp. American Depositary Shares | NASDAQ | — | — |
Source: IPO calendar, US exchanges · Dates and price ranges can change before an IPO prices.
Ex-dividend dates
Twenty-one S&P 500 companies go ex-dividend this week. Monday's group includes Aon at $0.82 a share, Blackstone Inc. at $1.12, Citigroup at $0.67, Kinder Morgan at $0.30, Las Vegas Sands at $0.30, NRG Energy at $0.48, ONEOK at $1.07 and Pinnacle West at $0.93.
MetLife goes ex-dividend Tuesday at $0.59 a share. Wednesday brings Brown & Brown at $0.18 and EQT Corporation at $0.17, and Thursday brings Synchrony Financial at $0.34.
Friday's group includes Carnival at $0.15, CMS Energy at $0.57, FirstEnergy at $0.47, Howmet Aerospace at $0.14, J.B. Hunt at $0.45, Masco at $0.32, Norfolk Southern Railway at $1.35, Pfizer at $0.43 and Wells Fargo at $0.50.
The ex-dividend date marks the first day a share trades without the right to the upcoming payment, so an investor who buys on or after that date does not receive it.
| Ex-date | Stock | Company | Dividend | Paid |
|---|---|---|---|---|
| Mon, Nov 2 | AON | Aon | $0.82 | Fri, Nov 13 |
| Mon, Nov 2 | BX | Blackstone Inc. | $1.12 | Mon, Nov 9 |
| Mon, Nov 2 | C | Citigroup | $0.67 | Wed, Nov 25 |
| Mon, Nov 2 | KMI | Kinder Morgan | $0.30 | Mon, Nov 16 |
| Mon, Nov 2 | LVS | Las Vegas Sands | $0.30 | Tue, Nov 10 |
| Mon, Nov 2 | NRG | NRG Energy | $0.48 | Mon, Nov 16 |
| Mon, Nov 2 | OKE | ONEOK | $1.07 | Mon, Nov 16 |
| Mon, Nov 2 | PNW | Pinnacle West | $0.93 | Tue, Dec 1 |
| Tue, Nov 3 | MET | MetLife | $0.59 | Tue, Dec 8 |
| Wed, Nov 4 | BRO | Brown & Brown | $0.18 | Wed, Nov 11 |
| Wed, Nov 4 | EQT | EQT Corporation | $0.17 | Tue, Dec 1 |
| Thu, Nov 5 | SYF | Synchrony Financial | $0.34 | Mon, Nov 16 |
| Fri, Nov 6 | CCL | Carnival | $0.15 | Fri, Nov 27 |
| Fri, Nov 6 | CMS | CMS Energy | $0.57 | Tue, Dec 1 |
| Fri, Nov 6 | FE | FirstEnergy | $0.47 | Tue, Dec 1 |
| Fri, Nov 6 | HWM | Howmet Aerospace | $0.14 | Wed, Nov 25 |
| Fri, Nov 6 | JBHT | J.B. Hunt | $0.45 | Fri, Nov 20 |
| Fri, Nov 6 | MAS | Masco | $0.32 | Mon, Nov 23 |
| Fri, Nov 6 | NSC | Norfolk Southern Railway | $1.35 | Fri, Nov 20 |
| Fri, Nov 6 | PFE | Pfizer | $0.43 | Mon, Dec 7 |
| Fri, Nov 6 | WFC | Wells Fargo | $0.50 | Tue, Dec 1 |
Source: Dividend calendar, S&P 500 members