Muhtar Kent, chairman and CEO of The Coca-Cola Co., presided over the company’s annual meeting of shareowners in Atlanta earlier this week when a two-for-one stock split was recommended to shareowners.
“Our recommended two-for-one stock split reflects the board of directors’ continued confidence in the long-term growth and financial performance of our company,” said 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 organizations around the world.”
The split would be the 11th in the stock’s 92-year history and the first in 16 years. With all dividends reinvested annually, one share of common stock purchased for $40 in 1919 would be worth approximately $9.8 million today.
More than 500 people attended the annual meeting held at Atlanta’s Cobb Galleria Center.