PepsiCo raises annual dividend 7%

by Eric Schroeder
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PURCHASE, N.Y. — The board of directors of PepsiCo, Inc. has raised its annual dividend 7%, to $2.06 per share from the current annual rate of $1.92. It is the company’s 39th consecutive annual dividend increase.

The quarterly dividend of 51.5c is payable June 30, 2011, to shareholders of record on June 3, 2011.

“PepsiCo has a long and consistent track record of delivering strong operating results and achieving top-tier financial performance,” said Indra Nooyi, chairman and chief executive officer of PepsiCo. “The board’s decision to once again raise the annual dividend reflects our confidence in both the near- and long-term growth of our business as well as our ongoing commitment to delivering strong cash returns to shareholders. Since the beginning of 2001, we have returned over $48 billion to shareholders in the form of dividends and share repurchases.”

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