The board of directors of PepsiCo today (7 May) declared an increase in the annual dividend, from the current $1.50 to $1.70 per share on PepsiCo common stock.

The quarterly dividend of $0.425 is payable on 30 June to shareholders of record on 6 June.

"We are pleased to reward shareholders with our thirty-sixth annual dividend increase, continuing our track record of strong performance," said PepsiCo chairman and CEO Indra Nooyi. "The dividend reflects our continued commitment to maximise the value of our shareholders' investment and our confidence in the future growth of our business."