PepsiCo Boosts Annual Dividend By 4%
May 02 2012 - 9:08AM
Dow Jones News
PepsiCo Inc.'s (PEP) board approved a 4% increase in the
beverage and snack giant's annual dividend--the 40th consecutive
annual dividend boost.
The dividend will be increased to $2.15 from $2.06, with the
additional payout to shareholders expected to cost the company
about $140.8 million a year.
PepsiCo last month reported that its first-quarter earnings fell
1.4% on higher costs as revenue growth slowed and sales from
Americas beverages continued to slide.
The company had been seeing double-digit sales increases over
the past two years, helped by acquisitions and growth in emerging
markets, but its bottom line has been stung by higher commodity
costs.
Shares closed Tuesday at $66.49 and were inactive premarket. The
stock is down 4.1% in the past year, trailing the broader
market.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com
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