PURCHASE, N.Y. — PepsiCo, Inc. is raising the company’s annual dividend by 7% and will increase its share of repurchase authorization amount.
“From 2005 to 2009, we distributed over $26 billion to our shareholders through dividends and share repurchases,” said Indra Nooyi, chairman and chief executive officer. “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 dividend increase will raise the annual rate of $1.80 to $1.92 per share, and the company is authorized to repurchase up to $15 billion of PepsiCo common stock through June 2013. The dividend increase will take place when the board declares its next quarterly common stock dividend in June.