This week brings zero stock splits of $2 billion or more, two initial public offerings (IPOs) expected on US exchanges, and 52 S&P 500 ex-dividend dates. The most notable IPO is Rezera, a biotech that Axios reports set terms of 16.67 million shares priced between $11 and $13, while the largest ex-dividend payers include Apple Inc. and IBM.
Stock splits
There are no US-listed stock splits of $2 billion or more scheduled this week.
A stock split divides existing shares into a larger number of shares at a proportionally lower price each, so a holder ends up with more shares worth less apiece, and the total value of the holding does not change.
IPOs expected this week
Two initial public offerings (IPOs) are expected on US exchanges this week.
Deep Sea Minerals Corp. is expected to list American Depositary Shares, a certificate representing shares in a foreign company that trades on a US exchange, under the ticker SEAM on Nasdaq on Tuesday, November 10.
Rezera Inc. is expected to list on Nasdaq under the ticker RZRA on Thursday, November 12, with a price range of $11.00 to $13.00 for 16.67 million shares. Axios reported that Rezera is a Boston-based biotechnology company focused on inflammatory disease, and that the offering terms would value the company at roughly $254 million on a fully diluted basis at the midpoint of the range. Axios also noted the company has raised over $150 million from investors including Novo Holdings, Blue Owl and 5AM Ventures, though one Axios report described it as cardio-focused and another as inflammatory-disease focused.
As with any IPO, the listing date and price range are expectations that can shift before pricing is finalized.
| Expected | Ticker | Company | Exchange | Price range | Shares |
|---|---|---|---|---|---|
| Tue, Nov 10 | SEAM | Deep Sea Minerals Corp. American Depositary Shares | NASDAQ | — | — |
| Thu, Nov 12 | RZRA | Rezera Inc. | NASDAQ | $11.00 - 13.00 | 16.67 million |
Source: IPO calendar, US exchanges · Dates and price ranges can change before an IPO prices.
Ex-dividend dates
Fifty-two S&P 500 companies go ex-dividend this week, spanning Monday, November 9 through Friday, November 13.
Monday and Tuesday
Monday's group includes Ameriprise Financial at $1.70 a share, W. W. Grainger at $2.49 a share, and Vulcan Materials Company at $0.52 a share. Tuesday is the busiest day of the week, with names such as American Electric Power at $0.97 a share, Baker Hughes at $0.23 a share, Eaton Corporation at $1.10 a share, Ford Motor Company at $0.15 a share, IBM at $1.69 a share, Paccar at $0.35 a share, PPG Industries at $0.74 a share, Rollins, Inc. at $0.20 a share, Target Corporation at $1.16 a share, United Rentals at $1.97 a share, Visa Inc. at $0.78 a share, Welltower at $0.85 a share, and West Pharmaceutical Services at $0.26 a share.
Wednesday through Friday
Wednesday brings ResMed at $0.66 a share. Thursday is a large group including Apple Inc. at $0.27 a share, American Water Works at $0.90 a share, D. R. Horton at $0.50 a share, Expand Energy at $0.58 a share, Diamondback Energy at $1.18 a share, Comfort Systems USA, Inc. at $1.00 a share, Ingersoll Rand at $0.02 a share, SBA Communications at $1.25 a share, and TJX Companies at $0.48 a share. Friday closes the week with Church & Dwight at $0.31 a share, Cencora at $0.66 a share, CRH plc at $0.39 a share, and Cintas at $0.52 a share.
Going ex-dividend means that an investor who buys the stock on or after that date is not entitled to receive the upcoming payment, which instead goes to whoever held the shares before the ex-dividend date.
| Ex-date | Stock | Company | Dividend | Paid |
|---|---|---|---|---|
| Mon, Nov 9 | AMP | Ameriprise Financial | $1.70 | Fri, Nov 27 |
| Mon, Nov 9 | GWW | W. W. Grainger | $2.49 | Tue, Dec 1 |
| Mon, Nov 9 | VMC | Vulcan Materials Company | $0.52 | Tue, Nov 24 |
| Tue, Nov 10 | AEP | American Electric Power | $0.97 | Thu, Dec 10 |
| Tue, Nov 10 | BKR | Baker Hughes | $0.23 | Fri, Nov 20 |
| Tue, Nov 10 | ETN | Eaton Corporation | $1.10 | Fri, Nov 27 |
| Tue, Nov 10 | F | Ford Motor Company | $0.15 | Tue, Dec 1 |
| Tue, Nov 10 | IBM | IBM | $1.69 | Thu, Dec 10 |
| Tue, Nov 10 | PCAR | Paccar | $0.35 | Wed, Dec 2 |
| Tue, Nov 10 | PPG | PPG Industries | $0.74 | Fri, Dec 11 |
| Tue, Nov 10 | ROL | Rollins, Inc. | $0.20 | Thu, Dec 10 |
| Tue, Nov 10 | TGT | Target Corporation | $1.16 | Tue, Dec 1 |
| Tue, Nov 10 | URI | United Rentals | $1.97 | Wed, Nov 25 |
| Tue, Nov 10 | V | Visa Inc. | $0.78 | Tue, Dec 1 |
| Tue, Nov 10 | WELL | Welltower | $0.85 | Thu, Nov 19 |
| Tue, Nov 10 | WST | West Pharmaceutical Services | $0.26 | Wed, Nov 18 |
| Wed, Nov 11 | RMD | ResMed | $0.66 | Thu, Dec 17 |
| Thu, Nov 12 | AAPL | Apple Inc. | $0.27 | Mon, Nov 16 |
| Thu, Nov 12 | AWK | American Water Works | $0.90 | Tue, Dec 1 |
| Thu, Nov 12 | DHI | D. R. Horton | $0.50 | Thu, Nov 19 |
| Thu, Nov 12 | EXE | Expand Energy | $0.58 | Thu, Dec 3 |
| Thu, Nov 12 | FANG | Diamondback Energy | $1.18 | Thu, Nov 19 |
| Thu, Nov 12 | FIX | Comfort Systems USA, Inc. | $1.00 | Mon, Nov 23 |
| Thu, Nov 12 | IR | Ingersoll Rand | $0.0200 | Thu, Dec 3 |
| Thu, Nov 12 | SBAC | SBA Communications | $1.25 | Thu, Dec 10 |
| Thu, Nov 12 | TJX | TJX Companies | $0.48 | Thu, Dec 3 |
| Fri, Nov 13 | CHD | Church & Dwight | $0.31 | Tue, Dec 1 |
| Fri, Nov 13 | COR | Cencora | $0.66 | Mon, Nov 30 |
| Fri, Nov 13 | CRH | CRH plc | $0.39 | Wed, Dec 9 |
| Fri, Nov 13 | CTAS | Cintas | $0.52 | Tue, Dec 15 |
Source: Dividend calendar, S&P 500 members · 52 S&P 500 companies go ex-dividend this week; the first 30 by date are listed.