Coca-Cola’s Dividend Rises
Coca-Cola Co. announced that its dividend went up 5.4 percent for its shareholders, which will be effective on April.
The Board of Directors of the company approved the increase. It will raise the annual dividend from $1.48 to $1.56 per share.
According to the company, the increase will be valid to the shareowners on record as of March 15, 2018.
Coca-Cola attributes the rise in the dividend to improved cash flow. The company has reported $41.5 billion in dividends paid to its shareholders since 2010. Last year, Coca-Cola paid $6.3 billion to its stakeholders.
Meanwhile, Coca-Cola has appointed Christopher Davis and Caroline Tsay as its new member to the company’s Board of Directors.
Davis and Tsay will stand for election to the board during the annual meeting of the shareholders in April, the company stated.
Davis is the chairperson of Davis Advisors, an independent investment management firm. He has also worked as a research analyst and as an accountant.
Tsay, on the other hand, is the CEO of Compute Software Inc., a California-based cloud infrastructure software company. She was also the previous vice president and general manager of software at Hewlett Packard Enterprise Co.
“We have nominated Chris and Caroline to join our board because they would bring valuable expertise and new perspectives to our business,” the Chairman of Coca-Cola Company, Muhtar Kent, stated.
If the two representatives get elected, they will serve on the compensation and audit committees of the board.
Coca-Cola Sales Drop 20%
Coca-Cola has reported a 20 percent decrease in its quarterly revenue as it continues to sell off its bottling operations, and the company has recorded a $3.6 billion charge related to the latest U.S. tax laws.
The maker of carbonated soft drinks stated a net loss of $2.75 billion, or 65 cents per share, in the fourth quarter.
Earlier last year, Coca-Cola has posted a profit of $550 million, or 13 cents per share.
According to a report, the net operating revenue dropped to $7.51 billion from last year’s $9.41 billion, due to the refranchising of the company’s bottling operations.
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Ericka Henderson | February 16, 2018