NEW YORK — Warren Buffett's Berkshire Hathaway is sending a plan to split the iconic company's Class B shares to a shareholder vote.

Holders of the relatively low-cost shares will vote on a 50-for-1 stock split approved by the Berkshire Hathaway board, the company said.

The Class B shares closed Monday at $3,265, a fraction of the price of Class A shares, which ended the session at $98,750.

The announcement comes on the same day Berkshire Hathaway said it will buy Burlington Northern Santa Fe.