Thursday, February 9th the Board of Directors of PepsiCo, Inc. (PEP) announced a 10% quarterly dividend increase of from $1.15 to $1.265 per share effective with the dividend expected to be paid in June 2023. This represents the Company’s 51st consecutive annual dividend per share increase.
With current price $176.18 (yesterday's close), this raise brings their dividend yield to 2.87%.
Pepsi is a Dividend Champions with a 51 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.1, 5.7, 7.4 and 7.8 (Dividend Champions.xls)
Since I own 100 shares of PEP, this will increase my portfolio's projected annual net dividend income by $34.27.
This increase was well above my expectations, which were around 7%, so I welcome this announcement.
This is the 9th dividend increase I've received from PEP since initiating a position in February 2014. During this period, the quarterly dividend has risen as expected from $0.66 to $1.265, or 91.7 percent.
This increase raises my YOC to 6.50%.
Summary of 2023 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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