The shareowners of The Coca-Cola Co., Atlanta, on July 10 approved a two-for-one stock split and an increase from 5.6 billion to 11.2 billion in the number of authorized shares of the company's common stock.
The record date for the stock split is expected to be July 27, with new shares expected to be distributed on or about Aug. 10. Each shareowner of record on the close of business on the record date will receive one additional share of common stock for each share held.
The split is the 11th in the stock's 92-year history and the first in 16 years. With all dividends reinvested annually, one share of common stock purchased for $40 in 1919 would be worth approximately $10.3 million today, the company said.