A new power divider is proposed with a compact size. In 50-Ω systems, impedance transformation is of great importance for power dividers. Coupled microstrip lines with capacitor loaded and two short-circuited ports are introduced to properly transform impedance and increase degrees of freedom in power divider designs. Image impedance and image transfer constant of coupled microstrip lines with capacitor loaded are derived. The main structural parameters of the power divider are calculated accordingly. A special design procedure is illustrated for the proposed power divider with the capacitor loaded, which is implemented on a printed circuit board. A good agreement between the simulated model and the fabricated sample is observed, which demonstrates the validity of the proposed circuit model and the design scenario.