Here’s Why PepsiCo Investors Are Smiling

Soda and snack maker PepsiCo Inc. (NYSE:PEP) followed up on its strong first quarter results with a 9-cent increase in its annual dividend, from $2.06 to $2.15.

The new hike is the company’s 40th consecutive increase in its annual dividend. “The Board’s decision to increase our annual dividend demonstrates the confidence we have in the fundamental strength of PepsiCo’s business and our future growth prospects,” Pepsi CEO Indra Nooyi said in a statement.

The company has an impressive track record of having returned over $50 billion to shareholders in the form of dividends and share buybacks. This year, it plans to deliver over $6 billion to shareholders.