Dr Pepper Snapple Group has extended it share buyback scheme

Dr Pepper Snapple Group has extended it share buyback scheme

Dr Pepper Snapple Group is raising its dividend rate by 17.1% and has authorised the buyback of an extra US$1bn of the company's stock.

The latest quarterly dividend of $0.48  per share will be paid on 7 April, the Texas-based group announced yesterday. 

The $1bn buyback brings the total amount of share purchases authorised by the firm to $4bn. In the group's latest third quarter, it repurchased $2.7bn of its common stock. 

In DPSG's nine-month results, profits climbed 18%, off the back of a 2% lift in sales. 

The company will report full-year results next Thursday (12 February).