Why Does a Stock Split Appear as a Stock Dividend in the Corporate Actions API?
Last updated: July 27, 2026
In the Global Corporate Actions API, there are two scenarios where a Stock Split may be displayed as a Stock Dividend. This behavior is based on how our upstream data vendor classifies the event and how those classifications are mapped in our API.
Scenario 1 – Company Announces the Stock Split in the Form of a Stock Dividend
In some cases, the issuer explicitly announces that the stock split will be executed in the form of a stock dividend. Since the company itself describes the event this way, our upstream vendor classifies it as a Stock Dividend, and our API reflects the same classification.
Example
Symbol: CRWD
Ex-Date: 2026-07-02
The company's announcement states:
"CrowdStrike is also announcing that its board of directors has approved and declared a four-for-one split of the company's outstanding shares of Class A common stock in the form of a stock dividend..."
Accordingly, the event is classified as a Stock Dividend by our upstream vendor and is displayed as such in our API.
Scenario 2 – Stock Split with No Identifier Change
In other cases, the issuer announces a Stock Split, but the security identifiers (such as CUSIP, Symbol, or ISIN) remain unchanged, and the announcement specifies that shareholders will receive additional shares.
Under these conditions, our upstream vendor classifies the event as a Bonus Issue. As part of our API behavior, Bonus Issue events are represented as Stock Dividend events.
Example
Symbol: DLLL
Ex-Date: 2026-06-26
The issuer's announcement states:
"As a result of the share split, shareholders of each Fund will receive additional shares..."
The announcement also states:
"The ticker symbol and CUSIP number for each Fund will not change."
Based on these details, our upstream vendor classified the event as a Bonus Issue, which our API maps and displays as a Stock Dividend.
This behavior has also been verified and confirmed with our upstream vendor.