Shares of BIRD ticked up 10.19% to $2.38 in midday trading on August 21, the day after the company — now officially renamed Smartbird, Inc. — distributed a $0.31-per-share special dividend funded by the sale of its original footwear business. The payout marks one of the final chapters in one of 2026's most dramatic corporate reinventions: a sustainable sneaker brand reborn as an AI computing startup.
• A $39 Million Shoe Business Sold to Fund a $0.31 Check
Allbirds closed the sale of its footwear business assets for $40.7 million in cash to American Exchange Group, the parent company behind the Ed Hardy brand. On August 6, Smartbird's board declared a $0.31 special dividend per share, payable August 20 to stockholders of record as of June 25, 2026.
After post-closing matters wrap up, Smartbird may consider paying an additional dividend — meaning there could be a second, smaller check. With roughly 8 million shares outstanding, the total payout runs to only about $2.5 million, a sliver of the $40.7 million sale price, raising questions about where the rest went.
• The Company Behind the Ticker Is No Longer a Shoe Company
Allbirds officially changed its name to Smartbird and shifted toward AI infrastructure.
The company also doubled its convertible financing facility from $50 million to $100 million — debt that, if converted to equity, would massively dilute existing shareholders. The plan is to buy high-performance GPU chips and lease computing power to AI developers. The company has zero revenue from this new business and is competing against deep-pocketed cloud giants.
• The Stock Is Down 99% From Its IPO — and the Pivot Is Unproven
BIRD remains down roughly 99% from its November 2021 Nasdaq high of $577.80.
Independent commentators have flagged execution risk and potential dilution from the convertible notes , while the company must convince customers and investors that a firm once known for wool sneakers can compete in one of tech's most capital-intensive sectors.
• Dividend Looks Generous on Paper, but the Math Tells Another Story At $0.31 on a $2.38 stock, the dividend appears to yield about 13%. But it is a one-time liquidation payout, not a sign of ongoing profitability. Management itself acknowledged it had been "operating these footwear assets at a material loss" and that continuing was "not sustainable." Post-dividend, shareholders are left holding a speculative bet on an AI pivot with no proven revenue, heavy dilution risk, and a market cap hovering near $20 million. The dividend returned cash; whether the remaining company can create any is entirely unresolved.