Pepsi Increases Dividend Payout, Announces Share Buyback (PEP)
Symbols: PEP
PepsiCo Inc. (NYSE: PEP) has raised its annual dividend by 7% to $1.92 per share. The company also announced it plans to buy back up to $15 billion worth of its stock. PepsiCo’s (PEP) Chairman and CEO Indra Nooyi said, “The board's action reflects continued confidence in the growth of our business and our commitment to providing strong cash returns to our shareholders."
The increase in dividend will be effective from its next quarterly payout, which is scheduled for June 30. The record date for the dividend is June 4. The company had earlier announced the buyback of $4.4 billion shares.
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