The Coca-Cola Co will propose the stock split to shareholders in July

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.