Coca-Cola (KO) will raise its quarterly dividend by 2.5 percent to $0.41 per share in 2020. This marks the 58th consecutive year of dividend increases for Dividend Aristocrat KO. Last year the beverage company hiked its dividend by 2.6 percent.

The next dividend is payable April 1, 2020, to shareowners of record as of March 16, 2020. A new annualized dividend rate of $1.64 per share yields 2.7% at a stock price of $60.

The Coca-Cola Company is the world's largest nonalcoholic beverage company. The company owns or licenses and markets more than 500 beverage brands, which are grouped into category clusters: sparkling soft drinks; water, enhanced water and sports drinks; juice, dairy and plant-based beverages; tea and coffee; and energy drinks. In addition to Coca-Cola, the company's brand portfolio also includes AdeS soy-based beverages, Ayataka green tea, Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut water. Coca-Cola was incorporated in September 1919 under the laws of the State of Delaware and succeeded to the business of a Georgia corporation with the same name that had been organized in 1892. In May 1886, Dr. John S. Pemberton, a pharmacist in Atlanta, Georgia, created the syrup for Coca-Cola. In 1960, the company acquired Minute Maid, marking the first step toward becoming a total beverage company.