Coca-Cola Increases Dividend Payout

by Warren Seah

Coca-Cola, the global leader in the soft-drink industry, has solidified its status as a dividend king by announcing a significant increase in its quarterly payout. The company has raised its dividend from 46 cents to 48.5 cents per share, representing a remarkable 5.4% growth.

Steady Dividend Growth

This latest dividend increase further reinforces Coca-Cola’s remarkable track record of dividend growth. With this raise, the company marks an impressive 62 consecutive years of increasing its payouts annually. Achieving this milestone sets Coca-Cola apart as one of the few companies that have consistently enhanced their dividends for 60 years or more. Notable names on this coveted list include industry giants such as Procter & Gamble and Johnson & Johnson.

Yield and Stock Performance

Following the dividend raise, Coca-Cola shares now offer a yield of 3.3% based on the new payout. This increase is certainly positive news for investors seeking consistent income generation. The stock responded favorably to the announcement, with a 0.2% rise to $59.43.

PepsiCo’s Dividend Increase

In the same realm, rival company PepsiCo also experienced a dividend raise in mid-2023. This marked PepsiCo’s 51st consecutive annual dividend increase, underscoring the company’s commitment to rewarding shareholders. PepsiCo’s current annualized dividend stands at $5.06 per share. Despite a slight decline of 0.1% on Thursday, with the stock trading at $167.67, its yield remains steady at 3%.

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