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Summary Box: Coca-Cola seeks 2-for-1 stock split

The Associated Press

THE NEWS: The Coca-Cola Co. is seeking its first stock split in 16 years. The 2-for-1 split needs to be approved by shareholders in July.

THE REASON: 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.

THE BACKGROUND: The Atlanta-based company says the split is in line with its plans to double revenue over this decade. The news follows a strong first-quarter profit that beat Wall Street expectations.