PURCHASE, N.Y., May 6, 2014 /PRNewswire/ -- As previously disclosed on February 13, 2014, the Board of Directors of PepsiCo, Inc. (NYSE: PEP) today declared a 15 percent increase in the company's annual dividend, from an annual rate of $2.27 to $2.62 per share on PepsiCo common stock. It is the company's 42nd consecutive annual dividend increase.
The quarterly dividend of $0.655 is payable on June 30, 2014 to shareholders of record as of June 6, 2014.
"PepsiCo is focused on delivering sustainable long-term growth and strong cash returns to shareholders," said PepsiCo Chairman and CEO Indra Nooyi. "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."
Over the past ten years PepsiCo has returned more than $60 billion to shareholders in the form of dividends and share repurchases. The company expects to return $8.7 billion to shareholders in the form of dividends and share repurchases in 2014, a 35 percent increase from 2013.
About PepsiCo
PepsiCo products are enjoyed by consumers one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $66 billion in net revenue in 2013, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal to deliver top-tier financial performance while creating sustainable growth in shareholder value. In practice, Performance with Purpose means providing a wide range of foods and beverages from treats to healthy eats; finding innovative ways to minimize our impact on the environment and reduce our operating costs; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities where we operate.
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SOURCE PepsiCo, Inc.