Soft-drink giant PepsiCo Inc. says it is boosting its annual dividend payout by 7 percent, to $2.06 per share from $1.92.
The next quarterly payout, now at 51.5 cents instead of 48 cents, will be paid June 30 to shareholders of record June 3.
Dividends are payouts that companies give to shareholders. When a company raises its dividend, that's usually a sign of cash strength. Pepsi has raised its dividend every spring since at least 1998, according to data compiled by FactSet.
Earlier this spring, Coca-Cola Co. said it would raise its annual dividend to the equivalent of $1.88 from $1.76, also a 7 percent increase.