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Coca-Cola Co's (NYSE:KO)'s dividend got a little sweeter Thursday.
Coca-Cola approved the company’s 59th consecutive annual dividend increase, raising the quarterly dividend 2.4% from 41 cents to 42 cents per common share.
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The dividend increase is applicable for outstanding shares of Coca-Cola.
A report Friday from BevNet revealed that Coke might move forward in acquiring popular sports drink BodyArmor.
“We can confirm that The Coca-Cola Company has filed a pre-acquisition notification with the Federal Trade Commission (FTC) relating to its intent to acquire a controlling interest in BodyArmor,” Coke told BevNET.
“In 2018, Coca-Cola became a shareholder in BodyArmor, in a deal that was structured to create value for both companies while also defining a path to ownership in the future. Until closing, both companies will continue to operate independently in accordance with their existing agreement.”
Why It Matters: The Coke brand is far more than soda pop in 2021, what with the family of drink choices consisting of health-conscious, nutritious options like Smart Water, Honest Teas and fairlife dairy products.
It can be said BodyArmor is a direct competitor to Coke’s popular electrolyte sports drink Powerade. The acquisition would allow Coke to further expand its market share in the sports drink space.
KO Price Action: Shares of Coca-Cola were trading down 0.27% at $50.60 at last check Friday.
Coke has a 52-week high of $60 and a 52-week low of $36.27.
See Also: How To Buy Coca-Cola Stock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.