Churchill Downs Announces Stock Split, Higher Dividend, and New Share Repurchase Program

On October 31, Churchill Downs Inc. (CHDN) made three important corporate financial announcements. First, the company announced that it would increase its annual dividend to shareholders by 7%. Second, the Board of Directors authorized a 3-for-1 stock split. Third, the Board of Directors approved a new $300 million share repurchase program.


Sonal notified subscribers of the news at 4:30 pm. The next trade took place at 4:50 pm for $249.61. Regular market trading opened the next morning at $250.01. The stock price rose throughout the day before closing at $270.64. Churchill Downs continued to rise over the next five trading days. The stock closed at $274.50 on November 9 for a gain of 10%.

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