Tesla wants to split its stock so it can pay a stock dividend to shareholders, according to a filing Monday. A stock dividend is a dividend paid to shareholders in the form of additional company shares instead of cash. These dividends do not affect the value of a company, but they dilute its share price. The company last split its stock in August 2020. The shares have more than doubled since that 5-for-1 split took effect on Aug. 31, 2020. FedEx announced it was testing autonomous delivery trucks in China in late 2021 through a collaboration with Neolix, a self-driving logistics company based in the country. FedEx has previously launched initiatives towards autonomous vehicle usage, collaborating with companies including Nuro, DEKA Development Research, Aurora and Paccar. The company announced Monday that Smith will become executive chair and Ray Subramaniam, current chief operating officer, will succeed him. The leadership change will take place on June 1. Smith founded FedEx in 1973 while Subramaniam joined the company in 1991. General Motors has received more than 65,000 reservations for its electric GMC Hummer pickups and SUVs, as the automaker attempts to expedite production of the vehicles to meet demand. The reservations number is higher than the automaker’s initial expectations, according to Duncan Aldred, global vice president of GMC. The number of people converting their reservations into orders to buy the Hummer pickup, about 95%, is also higher than expected.
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