Coca-Cola Raises Dividend By 6%

Coca-Cola Corp. announced Thursday a 6% increase in its quarterly dividend to 35 cents a share from 33 cents a share. The new dividend will be payable April 1 to shareholders of record as of March 15. Based on Wednesday's closing price of the beverage giant's shares at $43.49, the new annual dividend of $1.40 a share represents a dividend yield of 3.2%, above the aggregate S&P 500 dividend yield of 2.31%, according to FactSet. The company said it was the 54th consecutive year that it has raised its dividend. The stock, which edged up 0.4% in premarket trade, has gained 2.9% over the past three months, while the Dow Jones Industrial Average has lost 7.2%.