The Atlanta-based company announced the two-for-one split in April, citing its expectation that it will double revenue over this decade.

The split increases the number of Coca-Cola shares (KO) to 11.2 billion from 5.6 billion. Shareholders will receive one additional share of stock in early August for each share held.

Companies split stocks when they think the share price has gotten too expensive or if the stock is trading too far above similar companies' stock.

Stock splits can also help companies with liquidity because the share price usually gets a bump immediately following the split.

The average share price in the S&P 500 is currently about $56, according to Standard & Poor's. That's up from $37 in 1980. Coca-Cola's stock was trading around $78 Tuesday. Its shares rose to a 52-week high $79.36 a week ago.

Shares of the Atlanta-based company began trading in 1919. Since then, the company's stock has been split 10 other times.