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Pepsi Rewards Shareholders with 5.4% Dividend Hike
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Pepsi Rewards Shareholders with 5.4% Dividend Hike

Global beverages and food processing major PepsiCo, Inc. (PEP) has announced a quarterly dividend of $1.075 per share, an increase of about 5.4% from the previous dividend of $1.021 per share.

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Following the news, shares of the company rose marginally to close at $163.54 in Thursday’s extended trading session.

Dividend Payment Date

The dividend will be paid on January 7, 2022, to shareholders of record as of December 3, 2021.

Dividend Yield

The company’s annual dividend of $4.3 per share now reflects a dividend yield of 2.6% based on Thursday’s closing price.

Notably, the company has been raising its quarterly dividend consistently over the past two decades, making it an attractive choice for investors.

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Price Target

Last month, Barclays analyst Lauren Lieberman reiterated a Buy rating on the stock. The analyst, however, raised the price target from $165 to $168, which implies upside potential of 2.8% from current levels.

The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 4 Buys and 3 Holds. The average PepsiCo price target of $165.57 implies that the stock has upside potential of 1.32% from current levels.

Smart Score

PepsiCo scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to outperform market expectations. Shares have gained 14% over the past year.

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