By Colin Kellaher
PepsiCo Inc. on Thursday said it will raise its annualized dividend by 7%, effective with the June payout.
The Purchase, N.Y., beverages and snacks giant said it will raise its dividend to $4.09 a year, equal to $1.0225 on a quarterly basis, from the current annual rate of $3.82, or 95 cents quarterly.
The new dividend rate represents an annual yield of about 2.8% based on Wednesday's closing price of $146.08, up from 2.62%.
Write to Colin Kellaher at email@example.com