US: Dr Pepper Snapple to pay first dividend
By just-drinks.com editorial team | 20 November 2009
Dr Pepper Snapple Group, the third largest soft drinks group in the US, is to pay its first dividend to shareholders.
Dr Pepper Snapple will, for the first time, pay a quarterly dividend of US$0.15 per share.
Registered shareholders as of 21 December will be eligible to received the payment, which will be made on 8 January 2010, said the group today (20 November).
Dr Pepper Snapple's board has also approved a $200m share buyback over the next three years.
"As we approach our target capital structure, we believe the time is right to initiate a cash return program to our shareholders," said Larry Young, group president and CEO. "Today's actions reflect our confidence in our continuing ability to generate strong cash flow and our intent to deploy it in shareholder-friendly ways."
Sectors: Soft drinks, Water
Companies: Dr Pepper
View next/previous articles
20 Nov 2009 -
20 Nov 2009 -
Currently reading -
US: Dr Pepper Snapple to pay first dividend
19 Nov 2009 -
Related articles
US: Dr Pepper Snapple to get lower windfall - analyst
Analyst group Stifel Nicolaus has said that Dr Pepper Snapple Group may get a lower windfall than first assumed from The Coca-Cola Co's deal to buy the North American operations of Coca-Cola Enterprises.
In the Spotlight - Dr Pepper Snapple Group
Dr Pepper Snapple Group has ridden out a fall in sales and profits in the first quarter of 2010 as analysts and investors take a longer term view of the soft drinks firm's prospects.
There are currently no comments on this article
Be the first to comment on this article