There's enough fizz in Keurig Dr Pepper's (KDP 0.80%) bottle for another shareholder payout. On Wednesday, the beverage conglomerate's board of directors declared its latest quarterly dividend.
As with all of the company's regular distributions, it is $0.15 per share. It will be paid on July 17 to stockholders of record as of July 3, and at the most recent closing share price, it yields 2.2%.
Image source: Keurig Dr Pepper.
The announcement closely follows the release of the company's first-quarter 2020 results, in which it managed to grow revenue by over 4% and non-GAAP (adjusted) net income by 13% on a year-over-year basis despite the economy-draining effects of the SARS-CoV-2 coronavirus outbreak.
The packaged beverages segment was a standout performer, with net sales rising more than 9% due to stocking by consumers ahead of stay-in-place measures aimed at mitigating the spread of the coronavirus.
Still, Keurig Dr Pepper is holding to its 2020 guidance, which forecasts an improvement in net sales of 3% to 4% for the year, and 13% to 15% growth in adjusted, per-share net income.
Since its debut on the stock market in July 2018, Keurig Dr Pepper -- the combination of several notable beverage companies, mainly the Keurig coffee machine and drinks maker, familiar soda brand Dr. Pepper, and the Snapple line of drinks -- has paid that regular $0.15 per share dividend every quarter.
Keurig Dr Pepper stock was an underperformer on Wednesday. In contrast to the gains of the broader equities market and other consumer discretionary stocks, the company's shares sank by 1.6% on the day.
