US: Dr Pepper Snapple to pay first dividend
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."
The challenging economic environment combined with Jones Soda's current capitalisation has made it extremely difficult for the firm to continue to operate on a standalone basis. Michelle Russell looks...
Soft drinks maker Dr Pepper Snapple Group has raised its profits guidance for 2010, despite reporting a decline in profits and sales in the first quarter of the year....
Dr Pepper Snapple Group has launched an advertising campaign for Iron Man 2 in the US that will feature the creator of the character, Stan Lee....
- Analysis - SABMiller to add bolt-ons in Africa?
- A-B InBev's Move on Tennent's Super Makes Sense
- India: Everyone's Favourite Spirits Market
- Brand Diversification Driving Craft Brewery Growth
- Analysis - Stock Spirits: Poland's number one
- Diageo scraps Arthur's Day, but singer left sad
- Pernod Ricard's Café de Paris Pear, Pomegranate
- PepsiCo CEO sees "profound" change in US consumers
- William Grant sinks GBP185,000 into "No" camp
- SodaStream silent on John Lewis pullout in UK