Netflix announces ten-for-one forward stock split

Netflix NFLX on Thursday announced a ten-for-one forward stock split plan of its common stock, making the company's shares more affordable for retail investors.

Netflix's shares, which have gained more than 360% over the past three years, were up 3% at $1,123.49 in extended trading.

Each shareholder of the company will receive nine additional shares for each share held, after close of trading on Nov 10. Trading is expected to begin on a split adjusted basis at market open on November 17, the company said.