Keurig Dr Pepper hikes dividend by 6.7%
On September 14, 2022, Keurig Dr Pepper Inc. (KDP), formerly Dr Pepper Snapple Group, Inc., announced a 6.7% dividend hike to $0.20 per share quarterly. This comes after KPD hiked its quarterly dividend by 25 percent to $0.1875 per share in 2021.
The increased KDP regular quarterly cash dividend of $0.20 per share is payable in U.S. dollars on the Company's common stock on October 14, 2022 to shareholders of record on September 30, 2022. The new annual dividend rate will be 80 cents per share and yields 2.2% at a stock price of $37.
Previously Dr Pepper Snapple Group had been paying a quarterly dividend of 58 cents per share through 2018 before the company teamed up with Keurig. Currently the company pays an estimated annual dividend of $1.13 billion to shareholders.
Keurig Dr Pepper Inc., formerly Dr Pepper Snapple Group, Inc., is an integrated brand owner, manufacturer and distributor of non-alcoholic beverages in the United States, Mexico and Canada. The Company offers a diverse portfolio of flavored (non-cola) carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs), including ready-to-drink teas, juices, juice drinks, water and mixers. The Company's segments include Beverage Concentrates, Packaged Beverages and Latin America Beverages. The Company's brand portfolio includes CSD brands, such as Dr Pepper, Canada Dry, Penafiel, Squirt, 7UP, Crush, A&W, Sunkist soda and Schweppes, and NCB brands, such as Snapple, Hawaiian Punch, Mott's and Clamato. The Company's NCB brands include Snapple, Hawaiian Punch, Mott's, FIJI mineral water, Clamato, Yoo-Hoo, Deja Blue, Bai Brands, ReaLemon, AriZona tea, Vita Coco coconut water, Mr and Mrs T mixers, BodyArmor, Nantucket Nectars, Garden Cocktail, Mistic and Rose's.
