PepsiCo has announced details of its quarterly dividend. The company's board of directors yesterday declared a quarterly dividend of US$0.23 per share on common stock.

The amount reflects the 44% per share increase in the annual dividend, raising it from $0.64 a share to $0.92 a share on an annual basis, as approved by the board at the end of March. This was the 32nd consecutive increase in the annual dividend since 1972, the company said.

The dividend is payable on 30 June to shareholders of record on 11 June 2004.