Google finally splits stock after 2 years of announcement

Washington: 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.