Dell Technologies Inc. [NYSE: DELL] has disclosed the record and assignment date for VMware spin-off special dividend date. The firm revealed that its board of directors has authorized the distribution of a special stock dividend to Dell Technologies stockholders of all its shares of Class A and Class B common stock of VMware, Inc.
The allocation of shares to all Dell Technologies shareholders will be scheduled for October 29, 2021. The division will take place in the form of a pro-rata common stock dividend to each Dell Technologies shareholder as of the record date. Dell Technologies’ spin-off of VMware is anticipated to be executed on November 1, 2021.
Furthermore, all the shares of Class A and Class B common stock of VMware, Inc signifies nearly 81% of the outstanding shares of VMware common stock. Each share of VMware Class B common stock will be given into one share of VMware Class A common stock in relation to the allocation and before the certificate by Dell Technologies stockholders of such shares.
Additionally, the final allocation ratio will be decided and published on the record date. It will be decided by splitting the shares of VMware common stock to be designated by the number of shares of Dell Technologies common stock outstanding on the record date. Dell Technologies shareholders would get nearly 0.44 shares of VMware for each share of Dell Technologies that they own, based on shares outstanding today.