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.
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.