Pepsi shareholders will get an increase in their dividends.
The beverage giant on Wednesday announced it would bump up annual dividends by four percent, increasing the rate from $2.06 per share to $2.15 per share for common stock. The increase in the annual dividend is the 40th in a row for the company.
Pepsi will pay its quarterly dividend of 53 cents on June 29 for shareholders of record on June 1.
"PepsiCo is focused on delivering sustainable long-term growth and strong cash returns to shareholders," Indra Nooyi, chairwoman and chief executive officer, said in a statement. "The Board's decision to increase our annual dividend demonstrates the confidence we have in the fundamental strength of PepsiCo's business and our future growth prospects."
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