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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Sears Holdings Corporation (CE) | USOTC:SHLDQ | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.10 | 0.00 | 01:00:00 |
From May 2019 to May 2024
Barnes & Noble Inc. said Tuesday its board has approved the spinoff of its education business, which is expected to begin regular trading on the New York Stock Exchange Aug. 3.
On Aug. 2, Barnes & Noble shareholders will receive of a 0.632 share of the new company, Barnes & Noble Education Inc., for each share held. Barnes & Noble Education will trade under the symbol "BNED." The shares will begin trading on a conditional, or "when-issued," basis on July 23.
Barnes & Noble in February announced plans to separate its college stores, as the bookseller battles steep losses at its Nook digital unit, declining overall revenue amid store closings and ramped up competition from Amazon.com Inc. and other online retailers.
After the split, Barnes & Noble will keep the consumer stores, online business and Nook unit. That company will be led by Ronald D. Boire, a veteran retailer who has held roles at Sears Canada Inc., Brookstone Inc., Toys "R" Us Inc. and Best Buy Co.
Barnes & Noble's current CEO, Michael Huseby, will join the education business as executive chairman after the split.
Barnes & Noble said it would begin paying a quarterly dividend of 15 cents a share after the spinoff. The first dividend is payable on Aug. 17.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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