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 Video: What is a Stock Split?
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| Old Dominion Freight Line is a less-than-truckload (LTL) motor carrier. Co. provides regional, inter-regional and national LTL services through a single integrated, union-free organization. Co.'s service offerings, which include expedited transportation, are provided through a network of service centers located throughout the continental U.S. Through alliances, Co. also provides LTL services throughout North America. In addition to its LTL services, Co. provides a range of services including container drayage, truckload brokerage and supply chain consulting. According to our ODFL split history records, Old Dominion Freight Line has had 8 splits. | |
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Old Dominion Freight Line (ODFL) has 8 splits in our ODFL split history database. The first split for ODFL took place on June 17, 2003. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. ODFL's second split took place on May 21, 2004. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 1500 share position pre-split, became a 2250 share position following the split. ODFL's third split took place on December 01, 2005. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 2250 share position pre-split, became a 3375 share position following the split. ODFL's 4th split took place on August 23, 2010. ODFL's 5th split took place on August 24, 2010. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 3375 share position pre-split, became a 5062.5 share position following the split. ODFL's 6th split took place on September 10, 2012. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 5062.5 share position pre-split, became a 7593.75 share position following the split. ODFL's 7th split took place on March 25, 2020. This was a 3 for 2 split, meaning for each 2 shares of ODFL owned pre-split, the shareholder now owned 3 shares. For example, a 7593.75 share position pre-split, became a 11390.625 share position following the split. ODFL's 8th split took place on March 28, 2024. This was a 2 for 1 split, meaning for each share of ODFL owned pre-split, the shareholder now owned 2 shares. For example, a 11390.625 share position pre-split, became a 22781.25 share position following the split.
When a company such as Old Dominion Freight Line splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the ODFL split history from start to finish, an original position size of 1000 shares would have turned into 22781.25 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Old Dominion Freight Line shares, starting with a $10,000 purchase of ODFL, presented on a split-history-adjusted basis factoring in the complete ODFL split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
09/17/2014 |
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| End date: |
09/13/2024 |
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| Start price/share: |
$23.83 |
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| End price/share: |
$192.61 |
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| Starting shares: |
419.64 |
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| Ending shares: |
432.90 |
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| Dividends reinvested/share: |
$3.41 |
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| Total return: |
733.82% |
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| Average Annual Total Return: |
23.63% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$83,365.49 |
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| Years: |
10.00 |
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Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
09/17/2014 |
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| End date: |
09/13/2024 |
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| Start price/share: |
$23.83 |
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| End price/share: |
$192.61 |
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| Dividends collected/share: |
$3.41 |
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| Total return: |
722.60% |
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| Average Annual Total Return: |
23.46% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$82,226.53 |
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| Years: |
10.00 |
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| Date |
Ratio |
| 06/17/2003 | 3 for 2 | | 05/21/2004 | 3 for 2 | | 12/01/2005 | 3 for 2 | | 08/23/2010 | 1 for 1 | | 08/24/2010 | 3 for 2 | | 09/10/2012 | 3 for 2 | | 03/25/2020 | 3 for 2 | | 03/28/2024 | 2 for 1 |
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