Starbucks Splits Shares 2-for-1 Today, First in 10 Years

Starbucks splits its shares today 2 for 1. This marks the 6th time Starbucks has split shares since its initial public offering in 1992. It's also the companies first stock split in nearly 10 years. CEO Howard Schultz announced the split at the company's annual meeting in March. He called the move a reflection of the past 7 years of increasing shareholder value. The stock hit a new high after the announcement was made last month but has since traded slightly lower. Splitting shares doesn't affect the company's market cap, which is around $70 billion dollars, but it does create more activity for the stock.