US: Dr Pepper Snapple Group expands share buyback
Dr Pepper Snapple Group will pay shareholders US$0.32 per common share
Dr Pepper Snapple Group (DPSG) has confirmed details of its latest dividend payment and announced a further US$1bn share buyback scheme.
The company said yesterday (17 November) that it will pay shareholders US$0.32 per common share for its most recent fiscal quarter. Shareholders registered on 19 December will receive the payment on 6 January.
In addition, the company has authorised the repurchase of an additional $1bn of the company's common stock. Through to the third quarter, the company has repurchased around $1.5bn of its stock.
Last month, DPSG posted a 5.8% increase in nine-month net profits to $154m for the period to the end of September. Separately yesterday, DPSG announced that David Alexander, who currently serves as a national trustee on the board of Boys & Girls Clubs of America, will join its board with immediate effect. Earlier this year, he retired from 36 years with Ernst & Young.
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