PepsiCo to Raise Dividend by 7%, Effective With June Payout
By Colin Kellaher
PepsiCo plans to raise its dividend by 7% later this year.
The Purchase, N.Y., beverages and snacks giant on Friday said it will boost its annualized dividend to $5.42 from $5.06, or to $1.355 from $1.265 on a quarterly basis, effective with the June payout.
The increased dividend would represents an annual yield of about 3.12% based on Thursday's closing price of $173.85, up from 2.91%.
PepsiCo, which has about 1.37 billion shares outstanding and sports a market capitalization of nearly $236 billion, said it expects to pay about $7.2 billion in dividends this year and to buy back $1 billion in stock, bringing total cash returns to shareholders to around $8.2 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 09, 2024 06:34 ET (11:34 GMT)
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