Thursday, February 10th the Board of Directors of PepsiCo, Inc. (PEP) announced a quarterly dividend increase of from $ 1.075 to $ 1.15 per share effective with the dividend expected to be paid in June 2022. This represents the Company’s 50th consecutive annual dividend per share increase. This represents a 6.98% increase over previous June quarterly dividend.
With current price $ 169.12 (today's open), this raise brings their dividend yield to 2.72%.
Pepsi is a Dividend Champions with a 50 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.1, 6.6, 7.6 and 7.7 (Dividend Champions.xls)
Since I own 100 shares of PEP, this will increase my portfolio's projected annual net dividend income by $ 22.35.
The increase was a bit higher than I expected and I’m very pleased to take it.
This is the 8th dividend increase I've received from PEP since initiating a position in February 2014. During this period, the quarterly dividend has risen comfortably from $ 0.66 to $ 1.15, or 74.24 percent.
This increase raises my YOC to 5.91%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PEP
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