NEW YORK (AP) -- The Coca-Cola Co. is recommending its first stock split in 16 years.
The world's biggest beverage maker says 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.
If approved, the split would increase the number of Coke shares to 11.2 billion from 5.6 billion.
The move is subject to approval by shareowners on July 10.
Shares of the company closed Tuesday at $74.12. The stock is up nearly 6 percent in the year to date.
- stock split