Amazon board approves 20

© Reuters. The logo of Amazon is seen at the company's logistics center in Bretigny-sur-Orge, near Paris, France, December 7, 2021. REUTERS/Gonzalo Fuentes

(Reuters) - Amazon.com Inc (NASDAQ:AMZN) said on Wednesday its board approved a 20-for-1 split of the e-commerce giant's common stock, as well as authorized the repurchase of up to $10 billion of its stock.

Shares of Amazon rose 8% in extended trading.

Trading is expected to begin on a split-adjusted basis on June 6, the company said in a filing.

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