Demand Media has completed the separation of its domain name service, Rightside Group, through a tax-free dividend that distributed all outstanding shares of Rightside common stock to Demand Media common stock holders.

Demand Media shareholders received one Rightside share for every five Demand shares after the spinoff was completed.

Shares of Demand Media were down $16.27, or 62 percent, to $9.98 a share midday Monday on the New York Stock Exchange. Shares of Rightside, which now trade on the Nasdaq under the symbol NAME, were down 40 cents, or 2.5 percent, to $15.45 a share.

Demand and Rightside have scheduled conference calls for Thursday.

Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.