PepsiCo Inc. PEP, -0.04% said late Thursday its board of directors have authorized a quarterly dividend of $1.0225 a share, a 7% increase from the comparable year-ago period. The move is consistent with PepsiCo’s previously announced increase in its annualized dividend to $4.09 a share from $3.82 a share, which began with the June 2020 payment, the company said. The quarterly dividend is payable on Jan. 7 to shareholders of record on Dec. 4. PepsiCo has paid consecutive quarterly cash dividends since 1965, and 2020 marked the company’s 48th consecutive annual dividend increase, it said.
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