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Before the opening bell on Wednesday, beverage company PepsiCo (PEP ) reported lower results for the fourth quarter, but beat analysts’ expectations.
Chairman and CEO Indra Nooyi commented: “As we look ahead to 2015, we expect to again deliver results consistent with our long-term financial objectives, despite the anticipated challenging and volatile global macro environment…we plan to return approximately $8.5 to $9 billion to shareholders through both higher dividends and share repurchases.”
PepsiCo announced that it has boosted its dividend by 7.3% to $2.81 per share annually. This is expected to take effect in June.
Shares of PEP were up $1.61, or 1.64% during premarket trading Wednesday. The stock is up 3.63% YTD.