Tesla seeks 2nd stock split in less than 2 years

NEW YORK (AP) — Shares of Tesla are up sharply after the electric car maker announced its second stock split in less than two years. The company said in a regulatory filing that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend.

Shares jumped more than 7% Monday. Tesla’s board approved the proposal, but the dividend is contingent on final board approval.