NEW YORK — The Coca-Cola Co. is seeking its first stock split in 16 years.
The world’s biggest beverage maker said Wednesday the 2-for-1 split is in line with its plan to double revenue over this decade. The Atlanta-based company’s stock began trading in 1919. Since then, the stock has been split only 10 other times.
Companies split stocks when they think their share price has gotten too expensive or if the stock is trading too far above similar companies’ stock. If approved, Coke’s split would increase the number of its shares to 11.2 billion from 5.6 billion.