In this Friday, Oct. 21, 2016, photo, a woman walks into a Rite Aid location in Philadelphia. (AP Photo/Matt Rourke) ASSOCIATED PRESSRite Aid shareholders Thursday approved a “reverse stock split” in an effort to keep the company’s stock from being delisted by the New York Stock Exchange. Shareholders voted 78% in favor of the reverse split, Rite Aid said, citing preliminary tabulations with about 987 million eligible votes cast. "Rite Aid's Board of Directors may select a reverse stock split ratio of either 1-for-10, 1-for-15 or 1-for-20 in due course," Rite Aid said. "The decision to effect the reverse stock split and the effective date of the reverse stock split will be determined by the board at a future date."

Source: Forbes March 21, 2019 14:48 UTC