PepsiCo raises annual dividend by 4% to $2.15

NEW YORK: Global food and beverage giant, PepsiCo today declared a four per cent increase in the company's annual dividend to $2.15.

In a statement, the company said that dividend would be increased to $2.15 from $2.06. This is the company's 40th consecutive annual dividend increase.

"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," Pepsico Chairman and CEO Indra Nooyi said.

The company said it has returned more than $ 50 billion to shareholders in the form of dividends and share repurchases since 2002.

Further, it expects to return more than $ 6 billion to shareholders in 2012.

"PepsiCo is focused on delivering sustainable long-term growth and strong cash returns to shareholders," she said.

During the first quarter of 2012, PepsiCo's net income stood at $ 1.13 billion against $ 1.14 billion in the same period last year.

Besides, the company's net revenue rose to $ 12.43 billion during January-March quarter of 2012 compared to 11.94 billion in the corresponding period of previous year.