PEP PepsiCo Inc

By Colin Kellaher

PepsiCo Inc. on Thursday said it will raise its annualized dividend by 7%, effective with the June payout.

The Purchase, N.Y., beverages and snacks giant said it will raise its dividend to $4.09 a year, equal to $1.0225 on a quarterly basis, from the current annual rate of $3.82, or 95 cents quarterly.

The new dividend rate represents an annual yield of about 2.8% based on Wednesday's closing price of $146.08, up from 2.62%.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 13, 2020 06:59 ET (11:59 GMT)

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