10 Companies that Just Raised their Dividends

7. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 69

PepsiCo, Inc. (NASDAQ:PEP) is an American food and beverage company that offers a wide range of related products to its consumers. The company has long been seen as the challenger to Coca-Cola in the soda market. However, its extensive portfolio of beverages, snacks, and convenience foods allows it to achieve steady growth without relying on soda market dominance.

PepsiCo, Inc. (NASDAQ:PEP) maintained steady earnings in fiscal year 2024, reporting $91.8 billion in revenue, slightly up from $91.4 billion the previous year. Operating profit rose to $12.8 billion from $11.9 billion in FY23, while net income also increased to $9.6 billion. Looking ahead to 2025, the company anticipates low-single-digit organic revenue growth and mid-single-digit growth in core constant currency EPS.

In FY24, PepsiCo, Inc. (NASDAQ:PEP) generated $12.5 billion in operating cash flow. For FY25, it plans to return about $7.6 billion to shareholders through dividends. On February 3, the company announced a 5% increase in its annual dividend to $5.69 per share, marking its 53rd consecutive year of dividend growth. The stock has a dividend yield of 3.53%, as of March 6. It is among stocks that have raised their dividends.