I strongly suspect that you think my stock split point is nonsense but indulge me for a moment!

I don't think the "stock split effect" is nonsense, but I do think the effect varies depending on the issue. So for instance when the notoriously expensive Berkshire Hathaway stock split 50-1 a few years ago, it had a significant effect as for the first time, many small investors could afford to own BRK, albeit only the B shares. As I recall the shares moved up 5% or so around that time.

But much of that rise happened when the split was announced, and not when the split was effective. In other words, the market anticipated the extra demand that would be created, and priced that in very quickly.

A further factor was that it enabled a liquid options market in BRK for the first time, since options are for 100 shares of stock in the US. That meant positions in BRK could be hedged, enabling investors with short-term fears to hedge rather than sell their position.

KO shares are around $75 which is on the high side but not excessive, meaning that 100 shares are about £5,000 sterling. A split to $37.50 might make some difference but, even so, the question is whether that is already baked into the price,

But as you say, it really can't do any harm either. Quarterly dividends are 51 cents with the next XD being September.