US: PepsiAmericas declares Q1 dividend increase

By just-drinks.com editorial team | 27 February 2009

PepsiAmericas has declared a first quarter 2009 dividend of $0.14 per share on common stock, an increase from the fourth quarter 2008 dividend of $0.135 per share.

The dividend is payable 1 April 2009 to shareholders of record on 13 March 2009, the group said yesterday (26 February).

"We have increased our quarterly dividend for the past six years, continuing our strong record of returning cash to shareholders," said chairman and chief executive officer Robert C. Pohlad. "The dividend reflects our confidence in the cash flow generation and long-term growth of our business."

At the beginning of the month, the soft drinks bottler said that price rises had helped it to a 10% revenue increase for its full-year, despite a shrinking US market and a slowdown in the fourth quarter.

Revenue rose by 10% to US$4.9bn for the 12 months ended 31 December, although growth slowed to 3% in the fourth quarte.

Net income for the full-year rose by 6.7% to $226.4m, but fell in the fourth quarter to $37.8m, compared to $42m in the same period of 2007.

Sectors: Soft drinks, Water

Companies: PepsiAmericas