Paid in four quarterly installments of $0.5675 per share, the annual payout will increase to $2.27 from $2.15. The first quarterly payout will be made on June 28 to the holders of record at the close of business on June 7.
PepsiCo CEO Indra Nooyi was quoted as saying, "PepsiCo is focused on delivering sustainable long-term growth and strong cash returns to shareholders. 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."
Through a series of dividend payments and stock buybacks PepsiCo has returned more than $58 billion to shareholders since 2002, and it expects to return to shareholders an additional $6 billion in 2013.
The annual dividend payment will yield 2.8% based on the closing price of PepsiCo's stock on April 30.