Keurig Dr Pepper Raises Annual Dividend by 25% to 75 Cents
February 25 2021 - 6:44AM
Dow Jones News
By Dave Sebastian
Keurig Dr Pepper Inc. said it has approved a 25% increase in its
annual dividend to 75 cents a share, effective with its regular
quarterly dividend to be announced in the second quarter.
The soda and coffee-systems company on Thursday said it expects
dividend payout ratio to remain less than 50% of free cash flow
despite the dividend increase.
The increase will result in a 12.5% growth in dividends paid in
2021 and an 11.1% increase in dividends paid in 2022, the company
said.
"We have rapidly reduced our leverage since the merger and are
now in the position to also allocate additional capital to
shareholders, while continuing to reinvest in the business,"
Finance Chief and President Ozan Dokmecioglu.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
February 25, 2021 06:29 ET (11:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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