Keurig Dr Pepper Inc. (KDP), formerly Dr Pepper Snapple Group, Inc., will hike its quarterly dividend by 25 percent to $0.1875 per share in 2021. This increase was previously announced by the company but is now officially declared. KDP started paying a 15 cent per share quarterly dividend after the acquisition of Dr Pepper Snapple Group was completed. This is the first dividend hike announced by the company since the dividend was initiated in October 2018.
The next dividend will be paid on July 15, 2021 to shareholders of record on July 1, 2021. The new annual dividend rate will be 75 cents per share and yields 2% at a stock price of $36.50. Previously Dr Pepper Snapple Group had been paying a quarterly dividend of 58 cents per share through 2018 before the company teamed up with Keurig.
Keurig Dr Pepper Inc., formerly Dr Pepper Snapple Group, Inc., is an integrated brand owner, manufacturer and distributor of non-alcoholic beverages in the United States, Mexico and Canada. The Company offers a diverse portfolio of flavored (non-cola) carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs), including ready-to-drink teas, juices, juice drinks, water and mixers. The Company's segments include Beverage Concentrates, Packaged Beverages and Latin America Beverages. The Company's brand portfolio includes CSD brands, such as Dr Pepper, Canada Dry, Penafiel, Squirt, 7UP, Crush, A&W, Sunkist soda and Schweppes, and NCB brands, such as Snapple, Hawaiian Punch, Mott's and Clamato. The Company's NCB brands include Snapple, Hawaiian Punch, Mott's, FIJI mineral water, Clamato, Yoo-Hoo, Deja Blue, Bai Brands, ReaLemon, AriZona tea, Vita Coco coconut water, Mr and Mrs T mixers, BodyArmor, Nantucket Nectars, Garden Cocktail, Mistic and Rose's.