Coca-Cola (NYSE:KO) will pay $0.28 per share of common stock on April 1 to shareholders of record as of March 15, an increase of nearly 10% over the $0.255 the company handed out in its previous two disbursements. This was after a two-for-one stock split; before the split, Coke paid exactly twice that amount at $0.51.
The new annual dividend, announced Thursday, annualizes to $1.12 per share. This yields just under 3% at the current stock price of $37.71. It is Coke's 51st consecutive annual dividend increase.
Coke also announced a series of executive promotions. President of Coca-Cola International Ahmet Bozer and President of Coca-Cola Americas Steven Cahillane were both named executive vice presidents, while Global Chief Customer Officer J. Alexander Douglas is to assume the post of senior vice president. All three appointments are effective immediately.
linkBozer, Cahillane, and Douglas each assumed their current roles effective Jan. 1 as part of the company’s new global operating structure announced last July.
Fool contributor Eric Volkman has no position in Coca-Cola. The Motley Fool recommends Coca-Cola. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.