Coca-Cola Announces 2-for-1 Stock Split

Coca-Cola shareowners approved a two-for-one stock split on Tuesday that will double the company's common stock shares to 11.2 billion.

Coca-Cola bottles
Coca-Cola bottles

"The record date for the stock split is expected to be July 27, 2012, with new shares expected to be distributed on or about Aug. 10, 2012," the company said in a release. "Each shareowner of record on the close of business on the record date will receive one additional share of common stock for each share held."

The split will be the first in 16 years and the 11th in the stock's 92-year history.