PepsiCo, Inc. (PEP), one of the world's leading food and beverage companies, has recently made a significant announcement regarding its quarterly dividend. The company's Board of Directors has declared a 10 percent increase in the dividend payout, compared to the same period last year. This decision aligns with PepsiCo's previously stated commitment to boost its annualized dividend to $5.06 per share, up from $4.60 per share, commencing with the June 2023 payment. This article delves into the details of this momentous announcement and its implications for the shareholders.

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Dividend Increase

Today, PepsiCo's Board of Directors announced a quarterly dividend of $1.265 per share of PepsiCo common stock. This marks a noteworthy 10 percent increase when compared to the equivalent period in the previous year. The dividend payout is set to be distributed on September 29, 2023, to shareholders who are on record as of September 1, 2023.

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Consistent Dividend Growth

PepsiCo has a strong track record of rewarding its shareholders with consistent dividend growth. The decision to increase the annualized dividend to $5.06 per share, from $4.60 per share, was previously revealed and took effect starting with the June 2023 payment. This steady growth in dividends showcases PepsiCo's commitment to providing value to its shareholders and reflects the company's financial strength and confidence in its future prospects.

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Historical Milestone

The dividend increase in 2023 is of particular significance as it marks PepsiCo's 51st consecutive year of raising its annual dividend. Since 1965, the company has demonstrated its dedication to its shareholders by delivering quarterly cash dividends without interruption. This remarkable milestone underscores PepsiCo's stability as a company and its ability to navigate various economic climates successfully.