US: PepsiCo ups annual dividend

By just-drinks.com editorial team | 6 May 2009

PepsiCo has confirmed an increase in its annual dividend for this year.

The company, which launched a takeover bid for The Pepsi Bottling Group and PepsiAmericas last month, said yesterday (5 May) that its board of directors has declared a 6% rise in its annual dividend, from the current US$1.70 to $1.80 per share of common stock.

The quarterly dividend of $0.45 will be paid on 30 June to shareholders of record on 5 June.

"We are pleased to announce our 37th annual dividend increase, reflecting the strength of our cash flow and balance sheet," said PepsiCo's chairman and CEO, Indra Nooyi. "Even in this difficult economy, we are committed to return cash to our shareholders while continuing to invest in the long-term growth of our business."

Earlier this week, Pepsi Bottling Group rejected PepsiCo's takeover offer, describing it as "grossly inadequate".

Sectors: Soft drinks, Water

Companies: PepsiCo, Pepsi Bottling, PepsiAmericas