Tuesday, February 13, 2024

Dividend Increase - PepsiCo, Inc. (PEP)


Friday, February 9th the Board of Directors of PepsiCo, Inc. (PEP) announced announced a 7.1% increase in its annualized dividend to $5.42 per share from $5.06 per share, effective with the dividend expected to be paid in June 2024. This represents the Company’s 52nd consecutive annual dividend per share increase.

With current price $170.61 (yesterday's close), this raise brings their dividend yield to 3.18%.

Pepsi is a Dividend Champions with a 52 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.5, 6.9, 6.9 and 8.1 (Dividend Champions.xls)

Since I own 100 shares of PEP, this will increase my portfolio's projected annual net dividend income by $26.82.

This increase was in line with my expectations, which were around 7%, so I welcome this announcement.

This is the 10th 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 $1.355, or 105.3 percent.

This increase raises my yield on cost to 6.96%.

Summary of 2024 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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