The Coca-Cola Company has approved its latest dividend.

At the same time, the US soft drinks giant has confirmed a new vice president.

Coca-Cola, which last week posted a 4% rise in underlying operating profit for 2006, has upped its quarterly dividend by 10% from US$0.31 to $0.34 per common share. The payment represents an annual dividend of $1.36 per share, an increase on last year's $1.24.

The dividend will be paid on 1 April, the company said, to shareowners of record as of 15 March.

Coca-Cola named Edmund Steinike as company vice president. As chief development officer, Steinike is responsible for creating global application strategy and executing IT development across the company.

Steinike joined Coca-Cola in 2002, having spent 26 years with General Electric.