Home / Markets / Industries / Retail
Friday, November 20, 2009
Dr. Pepper Unveils First Dividend
By Ken Sweet
FOXBusiness
Beverage company Dr. Pepper Snapple Group (DPS) announced Friday it would start paying its first-ever quarterly dividend and authorized a $200 million stock repurchase program.
The maker of Dr. Pepper and Mott’s apple juice said it will pay a 15-cents-a -share dividend to shareholders of record on Dec. 21. It will cost the company $38 million.
The $200 million share repurchase program will occur over the next three years, the company said.
“As we approach our target capital structure, we believe the time is right to initiate a cash return program to our shareholders," said Larry Young, Dr. Pepper president and CEO, in a statement.
Shares of Dr. Pepper were up 1.6% to $27.23 a share on Friday and are up 60% this year.
Fox Business Video
-
-
Euro Debt Could Boost Gold
-
Feb 9, 2010
FOXBusiness.com LIVE
-
-
-
Health-Care Reform vs. Job Creation
-
Feb 9, 2010
Question of the Day
-
-
-
Ron Paul on Stimulus
-
Feb 9, 2010
Future of government bailouts?
-
-
-
U.S. No Longer the Space Explo...
-
Feb 9, 2010
Future of space program
-
-
-
Toyota Will Recover
-
Feb 9, 2010
Will the auto manufacturer bounce back?
-
Last 5 Stocks
- Ticker
- Company
- Price
- Change