Like a refreshing draught of an ice cold beverage on a hot day, PepsiCo (NASDAQ:PEP) announced Tuesday that for the 41st consecutive year the drink maker will increase its annual dividend.

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.

PEP Dividend Chart

PEP Dividend data by YCharts. Chart does not reflect the new, higher dividend payment.