Google Shareholders Approve Stock Split

Google's shareholders approved a stock split on Thursday that will preserve authority of the company's existing stakeholders.

The split, which was first announced in April, creates a new class of non-voting Class C stock that can be drawn upon without diluting Google co-founders Larry Page and Sergey Brin's voting power.

The value of Class A shares will be halved. For every Class A stock shareholders own, they will be given a share of Class C stock equal to half of its value before the split.

If, for instance, a shareholder holds 200 shares worth $570 each, after the split she will hold 400 shares worth about $285 each.

The split is intended to ensure Page and Brin can continue…
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