PepsiCo hikes dividend for 45th consecutive year

PepsiCo (PEP) will raise its dividend by 7 percent.

The quarterly dividend will be increased to to $0.8050 per share, marking the 45th year of dividend increases for Dividend Aristocrat PepsiCo.

This dividend is payable on June 30, 2017 to shareholders of record at the close of business on June 2, 2017. PepsiCo has paid consecutive quarterly cash dividends since 1965, and 2017 marks the company's 45th consecutive annual dividend increase.

The increased dividend reflects an annualized dividend yield of 4.1% based on the stock's closing price of $113.22 per share on May 5, 2017.

PepsiCo has raised its dividend for 45 consecutive years

Year-to-date the stock has gained 8.2% as of Friday, giving PepsiCo a $161.7 billion market cap. Of the 23 analysts currently following PepsiCo, no less than 16 rate the stock a 'buy', with 7 analysts recommending 'hold'. No analyst recommends to 'sell' PepsiCo stock. The average price target is $122.40, about 8 percent above the last closing price.

PepsiCo, Inc. is a global food and beverage company. It's brands include Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo had its IPO on December 18, 1919.