Google finally splits stock after 2 years of announcement
Google has finally split its stock officially, nearly two years after it first announced its move.
Under the terms of the split, the company will introduce a new category of Class C stock, which will trade the GOOG ticker.
However, it will not carry any voting power, the Mashable reported.
The company's shareholders will be entitled to one share of Class C stock for each share of Class A stock they own, while the original Class A shares will trade under a new stock ticker, GOOGL.
Meanwhile, a third class of stock A and Class B, which carries 10 votes per share and is largely held by Google founders Larry Page and Sergey Brin and Executive Chairman Eric Schmidt, will ensure that the three top executives will maintain voting control over the company even as they sell off their shares over time, the report added.
(Posted on 04-04-2014)