Standard & Poor's announced changes to how it plans to handle Google Inc.'s pending stock split, saying it will keep two classes of stock in its indexes, including the S&P 500.
The move marks a change to the index's current practice, which is to have a company represented only once in its market indicators. As a result, its benchmark S&P 500 index will have more than 500 stocks, but the amount of companies represented will still be 500.
Last month, S&P said it planned to drop one of Google's classes of stock on June 20.
Next month, Google intends to create a third class of stock: nonvoting shares that are to be separately listed on the Nasdaq Stock Market. The move, first unveiled in 2012, is intended to allow founders Larry Page and Sergey Brin to maintain tight control over the direction of the business.
The split will also bring the stock price down from its lofty position north of $1,200, potentially making ownership of Google more accessible to small investors.
On Tuesday, the S&P said, under its new practice, all eligible trading lines that meet certain liquidity and other thresholds will be included in the indexes.
Write to John Kell at john.kell@wsj.com
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