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(Reuters)

Coca-Cola Raises Dividend 6%, Promotes Three Executives

Industries Dow Jones Newswires

Coca-Cola Co. on Wednesday said it raised its quarterly dividend by 6% to 35 cents and promoted three executives to senior vice presidents. 

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Atlanta-based Coke is trying to jump-start sales, as consumers around the world cut back on sugary drinks because of health concerns. Soda consumption in the U.S. has been declining for more than a decade. 

The increased dividend, from 33 cents, is seen lifting Coke's dividend yield to 3.2% from 3%, based on the closing price Wednesday. The higher dividend is payable April 1 to shareholders of record March 15. 

Coca-Cola also said Brent Hastie, Craig Williams and Julie Hamilton will become senior vice presidents. 

Mr. Hastie is vice president for strategy and planning, responsible for Coke's global strategic planning and helping develop new areas of revenue growth. Mr. Williams is president of the division that manages Coke's relationship with McDonald's Corp., one of its largest clients. 

Ms. Hamilton is Coke's global chief customer and commercial leadership officer, where she builds commercial strategies and customer capabilities and supports Coke's global partners.