PEP PepsiCo Inc

By Dave Sebastian

PepsiCo Inc. maintained its guidance for fiscal 2021 as it reported uneven recoveries across its international markets for the recent quarter.

The food-and-beverage company Thursday said it continues to expect a high-single-digit increase in core constant currency per-share earnings on a mid-single-digit increase in organic revenue.

The company sees total cash returns to shareholders of about $5.9 billion, comprising dividends of roughly $5.8 billion and share buybacks of $106 million, it said. The company said it has completed its buybacks and doesn't expect to repurchase additional shares for the rest of the year.

PepsiCo said it sees core annual effective tax rate of about 21%. The company said it continues to expect a one-percentage-point effect from foreign-exchange translation to benefit net revenue and core per-share earnings growth.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

April 15, 2021 06:42 ET (10:42 GMT)

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