US: Coca-Cola Co targets stock split
The Coca-Cola Co will propose the stock split to shareholders in July
The Coca-Cola Co is set to propose a two-for-one stock split, the company's first split for 16 years.
Earlier today (25 April), Coca-Cola said the move would double the number of common stock from 5.6bn to 11.2bn. The proposal will be considered by shareholders at a special meeting scheduled for 10 July, with the split set to take place on 27 July if approved. The shares will be distributed on 10 August.
“Our recommended … split reflects the board of directors’ continued confidence in the long-term growth and financial performance of our company,” said chairman & CEO Muhtar Kent. “Our system’s 2020 Vision to double our revenues over this decade provides a clear roadmap for creating value for our consumers, customers, bottling partners and shareowners.
“A stock split reflects our desire to share value with an ever-growing number of people and organisations around the world.”
Since beginning trading in 1919, stock in Coca-Cola has been split ten times – first in 1927 and most recently in 1996. The company's market value currently stands at around US$165bn.
Coca-Cola's current share price stands at $74.66.
The second part of this month's management briefing shines a light on the logistics landscape in the Americas....
- Focus - Pernod's YTD Performance by Region
- just On Call - Pernod shifts Scotch focus in China
- Diet Coke "a work in progress" in US - Coca-Cola
- Heineken seeks "clarity" in Indonesia
- Focus - Heineken's Q1 Performance by Region
- CFO of Diageo's United Spirits stands down
- Pernod Ricard unveils new Absolut bottle
- Diageo's United Spirits calls on Mallya to quit
- Beam Suntory to strip down regional units
- Pernod Ricard sees YTD recover as sales increase
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets