Keurig Dr Pepper Inc (NASDAQ:KDP) said its Board of Directors has approved a 7.5% increase in its annualized dividend rate to $0.86 per share.
The current annualized rate of the dividend is $0.80 per share. The increase will be effective with the regular quarterly cash dividend.
The increased regular quarterly cash dividend of $0.215 per share is payable in U.S. dollars on the company’s common stock on October 13, 2023, to shareholders of record on September 29, 2023.
The company held $278 million in cash and equivalents as of June 30, 2023.
Keurig is a beverage company in North America, with annual revenue of more than $14 billion and approximately 28,000 employees.
Price Action: KDP shares are trading lower by 0.04% at $33.63 on the last check Tuesday.
