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This Dividend Aristocrat is Chasing a Crown
PepsiCo (NYSE:PEP) is a food, snack, and beverage giant that is based in Harrison, New York. Shares have climbed 24.3% in 2019 as of close on November 19. In the third quarter, Pepsi reported organic revenue growth of 4.3%.
Revenue climbed to $17.19 billion and adjusted earnings per share came in at $1.56. Both exceeded analyst expectations.
The company has achieved this growth on the back of a so-far successful marketing campaign. It saw its best revenue growth in its healthier snack alternatives and well-known chip brands.
These include Cheetos and Doritos, which fall under the Frito Lay North America umbrella. Its North American beverage business also achieved 3.5% revenue growth, with Gatorade improving its market share.
Shareholders can hang their hat on Pepsi’s promising growth potential as we move into the 2020s, but today I want to focus on its top tier dividend.
The company last declared a 3% year-over-year increase to its quarterly dividend. It now offers a dividend payout of $0.955 per share, representing a 2.8% yield.
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A dividend aristocrat is an S&P 500 constituent that have increased their dividend payouts for at least 25 consecutive years.
PepsiCo has hiked its dividend for 47 consecutive years, marking it as a bastion of stability that income investors can rely on. It is well on its way to claiming its crown as a dividend king, which is a stock that has increased its dividends for at least 50 consecutive years.
