Dr Pepper Snapple has now authorised $2bn of share repurchases

Dr Pepper Snapple has now authorised $2bn of share repurchases

Dr Pepper Snapple Group (DPSG) has announced a repurchase of an additional US$1bn of its common stock over the next three years.

In total, the company has now authorised $2bn of share repurchases of which $1.45bn remains outstanding, DPSG said today (13 July).

"With a focus on organic growth, continued strong free cash flow generation and the expected license payment from The Coca-Cola Co, we remain committed to returning excess cash to our shareholders," said company president and CEO, Larry Young.

Last month, the company secured a $715m payment from Coca-Cola as the two firms agreed a distribution deal in the US and Canada.