Corteva Sets October Spin-Off Date for Seed Business Vylor

The distribution will be processed as a pro rata dividend, effectively splitting Corteva into two distinct organizations. Shareholders are not required to take any action to receive their new Vylor stock, though the company recommends that investors consult tax advisors regarding the potential federal income tax implications of the spin-off, which is intended to be tax-free.

Trading activity on the New York Stock Exchange will undergo several shifts leading up to the transition. Starting September 25, Vylor common stock is expected to trade on a when-issued basis under the ticker symbol VYLR WI. During this same window, Corteva shares will trade in two separate markets: a regular-way market including the entitlement to Vylor shares, and an ex-distribution market that excludes that entitlement. Regular-way trading for Vylor under the symbol VYLR is slated to begin at the market open on October 1.