PEP PepsiCo Inc

By Matt Grossman

PepsiCo Thursday said it expects to report full-year organic-revenue and adjusted-profit growth in 2021, and announced a dividend increase.

The Purchase, N.Y.-based food and beverage company said it expects organic revenue to grow in 2021 by a percentage in the mid single digits, and for its adjusted earnings to grow by a high-single-digits percentage.

PepsiCo's full-year revenue for 2020 was $70.37 billion, and its adjusted earnings were $5.52 a share. Analysts have been forecasting revenue of $73.66 billion for 2021, and a full-year adjusted profit of $6.07 a share, according to FactSet.

The company said it will increase its annualized dividend to $4.30 a share, from $4.09 a share, beginning with the dividend to be paid in June.

Total cash returns to shareholders will be about $5.9 billion, the company said, comprising about $5.8 billion of dividends and $100 million of share repurchases. The planned share repurchases for 2021 have already been completed.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

February 11, 2021 06:42 ET (11:42 GMT)

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