Dividend Aristocrat PepsiCo (PEP) will raise its quarterly dividend by 7.1 percent to $1.0225 per share in 2020. Last year Pepsi hiked its dividend for the 47th consecutive calendar year with a dividend increase of 3.0 percent.

The next dividend is payable on June 30, 2020 to shareholders of record at the close of business on June 5, 2020.  A new annualized rate of $4.09 per share yields 3.0% at a stock price of $123.23.

In its press release today PepsiCo declared the higher quarterly dividend that was already communicated earlier this year.

PepsiCo, Inc. is a global food and beverage company with brands including Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PepsiCo makes and sells convenient beverages, foods and snacks in more than 200 countries and territories. The company's six divisions are: Frito-Lay North America, Quaker Foods North America, North America Beverages, Latin America, Europe Sub-Saharan Africa and Asia, Middle East and North Africa. PepsiCo was incorporated in Delaware in 1919, reincorporated in North Carolina in 1986 and has been paying dividends without interruption since the company was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc.