PepsiCo Announces Stock Repurchase, Dividend Increase
Mar 15, 2010 Company News, Dividends
PepsiCo (PEP) announced today that it is raising its dividend by 7%, from the current annual rate of $1.80 to $1.92 per share. This raises the annual dividend yield to 2.9%.
The increase will be effective with the next dividend payout, which will be on June 30, 2010, to shareholders of record on June 4, 2010.
The company also announced that it’s Board of Directors authorized the repurchase of up to $15 billion of PepsiCo common stock through June 2013, with about $4.4 billion of common stock expected to be purchased this year (2010).
In an otherwise weak
market, PepsiCo shares ended the day up $1.05 to close at $66.15 on the news.
Tags: Dividends, pepsi, pepsico, share repurchase
