Live News • May 19
PepsiCo Boosts Dividend for 54th Year With Strong International Growth and US$9b Shareholder Return Plan PepsiCo raised its quarterly dividend by 4% to US$1.48 per share, taking the annualized payout to US$5.92, and set payment for June 30, 2026.
This marks the 54th consecutive year of dividend growth, as PepsiCo plans to return about US$9b to shareholders in 2026 through dividends and buybacks, supported by a new US$10b repurchase program running through 2030.
Q1 2026 results showed revenue growth of 8.5% and a 24% increase in operating profit, with core operating profit up 29% in EMEA and 35% in Asia Pacific Foods, while the company guides to 2% to 4% organic revenue growth for the full year.
The combination of long-running dividend growth, a sizeable capital return plan, and contribution from international segments points to a business model that is leaning on both pricing power and geographic diversification.
You may want to weigh that income profile and lower beta against the risks around North America performance and execution on product premiumization, cost efficiencies, and the use of AI and other tools to sustain earnings. Declared Dividend • May 11
First quarter dividend increased to US$1.48 Dividend of US$1.48 is 4.0% higher than last year. Ex-date: 5th June 2026 Payment date: 30th June 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share is expected to grow by 31% over the next 3 years, which should maintain adequate earnings cover for the dividend. Announcement • May 06
The Gatorade Company Unveils Body of Science Multi-Year Research Commitment The Gatorade Company unveiled "Body of Science," a multi-year global research commitment to advance the science of women's hydration and nutrition. The work will be led by the Gatorade Sports Science Institute (GSSI), the brand's research arm with four decades of expertise in human performance. GSSI will study women's needs across life stages and critical moments, including the menstrual cycle, pregnancy, and perimenopause, and 500 women have already participated in early research. The work will help assist the 65 million women who report feeling that dehydration impacts their overall health, mood, focus, and energy. GSSI has conducted hydration and nutrition research on thousands of athletes. The institute has authored hundreds of peer-reviewed studies and shaped Gatorade product innovation across the portfolio. With "Body of Science," GSSI is applying that expertise to close the women's research gap. "Body of Science" will study women's hydration and nutrition needs across all life stages inside and outside of sport — including the menstrual cycle, pregnancy, and perimenopause. 500 women have already participated in early research. Women across the U.S. can participate in "Body of Science" research through the GSSI Labs app and earn points-based gift card rewards on Gatorade.com. Announcement • May 02
Tostitos Expands into Refrigerated Aisle with New Tostitos® Chunky Guacamole: Mild, Hint of Lime Flavored Dip Tostitos is launching its first-ever refrigerated dip – Tostitos® Chunky Guacamole: Mild, Hint of Lime Flavored Dip. Starting with fresh Hass avocados, this chunky guacamole delivers a hint of lime flavor and has been crafted to pair seamlessly with Tostitos tortilla chips and a variety of other options. It will be arriving this fall. Entering the refrigerated dip category expands the brand beyond shelf-stable offerings and unlocks entirely new meal occasions from modern on-the-go snacking to at-home entertaining. Chips and Guac' remain one of the most beloved snack pairings in the U.S.; in fact, 64% of consumers already eat guacamole with tortilla chips1. As the #1 unflavored tortilla chip brand2, Tostitos is uniquely positioned to meet this demand with a high-quality, ready-to-enjoy guacamole offering. Whether it's for a tasty on-the-go snack or game-day celebrations, Tostitos Chunky Guacamole is designed to deliver a flavorful experience that people can feel confident serving and sharing. Tostitos Chunky Guacamole starts with fresh Hass avocados, combined with onions, tomatoes, jalapeño peppers and spices and finished with a hint of lime flavor. The result is a chunky, ready-to-serve refrigerated guacamole made with quality ingredients: No artificial colors, flavors or preservatives, Non-GMO Project Verified, Vegan, kosher and gluten-free, Available Sizes for Every Occasion and To meet a range of snacking and entertaining occasions, Tostitos Chunky Guacamole will be available in three sizes: Tostitos Chunky Guacamole 8 oz. tub – for everyday snacking and meal pairings, Tostitos Chunky Guacamole 15 oz. tub – for hosting, gatherings and game day, Tostitos Chunky Guacamole 6-count 2 oz. singles – for on-the-go, lunch boxes and portion-controlled convenience and All three sizes of Tostitos Chunky Guacamole will be available this fall. To celebrate its refreshed brand identity and show what's behind every chip and dip, Tostitos will debut Casa de Tostitos in New York City from May 1-3, allowing consumers to experience Tostitos' values of craft, quality and connection firsthand. The multi-sensory event will showcase the brand's corn to chip story through: Live small-scale masa-making demonstrations, A curated, corn-inspired culinary experience, Collaborations with local chefs and restaurateurs, Entertainment reflecting the Tostitos "fiesta spirit" and For more information and to stay up to date on the latest news from Tostitos, follow along with the brand on social media or visit the website. Announcement • Apr 30
Pure Leaf Introduces Mental Focus Iced Tea Line Pure Leaf introduced Pure Leaf Mental Focus, the brand's first line of sparkling, real brewed iced teas, made with naturally occurring caffeine from black tea and added L-theanine, to help support attention and focus. Pure Leaf Mental Focus Key Features: Product: New Pure Leaf Mental Focus, real brewed sparkling iced teas made with naturally occurring caffeine from black tea and added L-theanine (an amino acid found in tea leaves); Benefit: Formulated to help support attention and focus amid everyday distractions; Flavors: Peach; Raspberry; Nutrition: 69mg caffeine; 0g sugar; 0 calories (12 fl oz can); Availability: Nationwide including all major retailers, convenience stores, gas stations and online. Pure Leaf is partnering with Brick, a digital wellness tool designed to temporarily block distracting apps and websites on phones. Together, they created the Mental Focus Dock, a custom coaster that holds a can of Pure Leaf Mental Focus and a Brick device. The dock's base houses the Brick to enable blocking selected apps, while the top keeps Pure Leaf Mental Focus close at hand to help support focus and enable people to power through their to-do lists. Beginning April 28, 2026, consumers can enter for a chance to win a limited-edition Mental Focus Dock by visiting the specified website. Winners will receive a Pure Leaf Mental Focus kit that includes both flavors of the new Pure Leaf Mental Focus iced tea – Raspberry and Peach, a Brick, and a limited-edition Mental Focus Dock. Reported Earnings • Apr 17
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$1.70 (up from US$1.34 in 1Q 2025). Revenue: US$19.4b (up 8.5% from 1Q 2025). Net income: US$2.33b (up 27% from 1Q 2025). Profit margin: 12% (up from 10% in 1Q 2025). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Beverage industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 08
PepsiCo Launches Dirty Mountain Dew and Dirty Mountain Dew Zero Sugar Nationwide PepsiCo announced that Dirty Mountain Dew™ is officially on shelves. The first-of-its-kind dirty soda-inspired drink from Mountain Dew is available now at retailers nationwide in 20 oz. single bottles and 12-pack 12 oz. cans, alongside Dirty Mountain Dew™ Zero Sugar. Dirty Mountain Dew™ and Dirty Mountain Dew™ Zero Sugar are available now in 20 oz. single bottles and 12-pack 12 oz. cans – the iconic citrus flavor of Mountain Dew meets a smooth, creamy flavor finish, no specialty shop required. Dirty Mountain Dew reimagines the dirty soda space through a distinctively Mountain Dew lens. The brand's iconic citrus foundation meets a satisfyingly smooth, creamy finish – bright, bold, and refreshing straight from the can. Dirty Dew brings that indulgent, creamy profile into a modern format without the setup or the wait. By translating a made-to-order experience into a ready-to-drink format at major retailers, Dirty Mountain Dew answers the growing consumer appetite for indulgent options without the friction. Starting April 29, fans can get Dirty Mountain Dew™ delivered free via DashMart in select markets through the DoorDash app. The DashMart experience will be available in select markets: Salt Lake City, Detroit, San Diego, Huntsville, Toledo, Chattanooga, Sarasota, Grand Rapids, Fresno, Kansas City, Tampa, and Las Vegas. Dirty Mountain Dew™ is also available now at retailers nationwide – no app, no wait required. Dirty Mountain Dew™ and Dirty Mountain Dew™ Zero Sugar are on shelves now in 20 oz. single bottles and 12-pack 12 oz. cans at retailers nationwide. Announcement • Mar 30
PepsiCo, Inc., Annual General Meeting, May 06, 2026 PepsiCo, Inc., Annual General Meeting, May 06, 2026. Announcement • Mar 17
PepsiCo, Inc. to Report Q1, 2026 Results on Apr 16, 2026 PepsiCo, Inc. announced that they will report Q1, 2026 results at 6:00 AM, US Eastern Standard Time on Apr 16, 2026 Recent Insider Transactions Derivative • Mar 03
Chairman & CEO notifies of intention to sell stock Ramon Laguarta intends to sell 28k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of March. If the sale is conducted around the recent share price of US$167, it would amount to US$4.7m. For the year to December 2019, Ramon's total compensation was 6% salary and 94% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Ramon has owned 469.21k shares directly. There has only been one transaction (US$4.0m sale) from insiders over the last 12 months. Upcoming Dividend • Feb 27
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 06 March 2026. Payment date: 31 March 2026. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (3.0%). Announcement • Feb 26
PepsiCo Launches in the UK PepsiCo announced that it has officially landed in the UK. Born online and backed by pop culture, poppi is shaking up the soft drinks aisle with bold fruity flavours, vibrant design and main character energy in every sip. poppi delivers full flavour fizz that's made with ingredients you can love; low in sugar, low in calories and high in fibre - it's pure feel good-fizz that tastes as good as it looks. poppi is launching with five delicious flavours including Strawberry Lemon, Raspberry Rose, Lemon Lime, Wild Berry and Orange. Founded in 2016 by husband-and-wife duo Allison and Stephen Ellsworth, Allison wanted to ditch soda, but not the taste, so she started mixing fruit juice, apple cider vinegar, and sparkling water in her Texas kitchen to create a better kind of soda. Fast-forward to 2026, and poppi is here to shake up the UK and revolutionise soda for the next generation. Announcement • Feb 18
Pepsi Prebiotic Cola Now Available Nationwide in Store and Online PepsiCo Beverages North America announced that the next era of cola has arrived. Following a sold-out Black Friday online debut last fall, PEPSI®?- the first legacy cola to introduce prebiotic fiber - officially launches Pepsi Prebiotic Cola nationwide. Consumers can now find Pepsi Prebiotic Cola in 12 oz. single cans and 8-packs in the carbonated soft drink aisle at retailers nationwide and online. Created for cola lovers and newcomers alike, Pepsi Prebiotic Cola brings a fresh take to the category - backed by decades of taste legacy. Declared Dividend • Feb 08
Fourth quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 6th March 2026 Payment date: 31st March 2026 Dividend yield will be 3.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) nor is it covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 3.8% to bring the payout ratio under control. EPS is expected to grow by 35% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Price Target Changed • Feb 05
Price target increased by 7.2% to US$169 Up from US$157, the current price target is an average from 21 analysts. New target price is approximately in line with last closing price of US$167. Stock is up 15% over the past year. The company is forecast to post earnings per share of US$8.14 for next year compared to US$6.02 last year. Reported Earnings • Feb 04
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$6.02 (down from US$6.98 in FY 2024). Revenue: US$93.9b (up 2.3% from FY 2024). Net income: US$8.24b (down 14% from FY 2024). Profit margin: 8.8% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Beverage industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Announcement • Feb 03
PepsiCo, Inc. (NasdaqGS:PEP) announces an Equity Buyback for $10,000 million worth of its shares. PepsiCo, Inc. (NasdaqGS:PEP) announces a share repurchase program. Under the program, the company will repurchase up to $10,000 million worth of its common stock. The program will expire on February 28, 2030. Announcement • Jan 24
PepsiCo Announces Management Changes for India and South Asia PepsiCo announced that Savitha Balachandran has been appointed as Chief Financial Officer - India and South Asia at PepsiCo, signalling a major leadership transition at PepsiCo in the region. She announced her new role through a LinkedIn post. In this role, she is set to lead the finance function for PepsiCo's business across India and South Asia. With deep expertise across finance, strategy, and value creation, Balachandran will be a critical partner as the company accelerate next phase of growth in this anchor market. This transition comes as Kaushik Mitra, Vice President & Chief Financial Officer, is set to retire from the company. An experienced finance leader, Balachandran was earlier associated with Tata Technologies as Chief Financial Officer for over five years. Before that, she was with Tata Motors for over 18 years and held several leadership roles at the company. Announcement • Dec 15
PepsiCo, Inc. Appoints Steven Williams as Executive Vice President & Vice Chairman, Global Chief Commercial Officer & Corporate Affairs, Effective December 28, 2025 On December 15, 2025, PepsiCo, Inc. announced that Steven Williams, Chief Executive Officer, North America, will transition to the role of Executive Vice President & Vice Chairman, Global Chief Commercial Officer & Corporate Affairs, effective December 28, 2025. Announcement • Dec 09
PepsiCo, Inc. to Report Q4, 2025 Results on Feb 03, 2026 PepsiCo, Inc. announced that they will report Q4, 2025 results at 6:00 AM, US Eastern Standard Time on Feb 03, 2026 Declared Dividend • Nov 23
Third quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 5th December 2025 Payment date: 6th January 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio) nor is it covered by cash flows (115% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 49% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Nov 20
PepsiCo, Inc. Declares a Quarterly Dividend, Payable on January 6, 2026 The Board of Directors of PepsiCo, Inc. declared a quarterly dividend of $1.4225 per share of PepsiCo common stock, a 5% increase versus the comparable year-earlier period. Action is consistent with PepsiCo's previously announced increase in its annualized dividend to $5.69 per share from $5.42 per share, which began with the June 2025 payment. This dividend is payable on January 6, 2026 to shareholders of record at the close of business on December 5, 2025. Announcement • Oct 27
PepsiCo, Alliance of Bioversity International, and CIAT Launch Major Update to Open-access Climate Resilience Platform to Accelerate Climate Adaptation PepsiCo in collaboration with the Alliance of Bioversity International and the International Center for Tropical Agriculture (CIAT), announced a major update to the Climate Resilience Platform ("CRP"), an open-access tool designed to help agricultural stakeholders plan for and mitigate the impacts of climate change. This milestone marks a significant step in PepsiCo's efforts to promote regenerative agriculture practices and help build a more resilient agricultural supply chain. Originally developed in 2023 with PepsiCo's support, the open-access and open-source CRP translates climate research into actionable insights for those in the agricultural space, enabling them to anticipate yield risks and implement targeted interventions. The tool has been recognized by Fast Company as one of the "Next Big Things in Tech" for its transformative potential in food and agriculture. This evolution has been made possible through PepsiCo's leadership and co-funding from FFAR, which contributed $1 million in recognition of the platform's potential for greater impact. The CRP has already been used by PepsiCo around the world to model future yield challenges and implement mitigation strategies. With CRP 2.0, the platform now offers: Quantification of climate risk exposure and opportunities in business terms, including investment requirements and projected yield improvements; Enhanced data and tools to foster collaboration between organizations at the landscape level; Added 2 new crops and 6 new countries in 2025, with new parties joining to broaden the platform's reach further; Engagement with a global network of agri-climate experts to enhance data accuracy and relevance. The update coincides with the onboarding of new organizations, signaling growing momentum for industry-wide climate action. Olam Agri, a leading global agri-business in food, feed and fibre, and Bonsucro, a global non-profit promoting sustainable sugarcane, are now integrating CRP into their operations. Both are contributing funding and data to the platform due to funding from the ISEAL Innovation Fund (funded by the Swiss State Secretariat for Economic Affairs (SECO) and UK International Development from the UK government) and the Bonsucro Impact Fund. Olam Agri has joined the Climate Resilience Platform, reinforcing its commitment to climate adaptation and agricultural innovation. Through this collaboration, Olam Agri will help extend CRP's coverage to include rice and cotton across key origins. By making their contributions open access, Olam Agri aims to empower stakeholders across these supply chains to accelerate climate adaptation and strengthen resilience. This update reflects PepsiCo's ongoing efforts in climate resilience and regenerative agriculture, including sharing tools and knowledge to help drive collective impact from healthier soils to support more resilient communities. Buy Or Sell Opportunity • Sep 25
Now 21% undervalued Over the last 90 days, the stock has risen 6.8% to US$140. The fair value is estimated to be US$177, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Sep 24
Elliott Investment Pushes PepsiCo for Operational Changes On September 24, 2025, Elliott Investment Management in its presentation to shareholders of PepsiCo, arguing that the Company Beverages North America's integrated model has lagged Coca-Cola's refranchised bottlers in areas such as price management, regional innovation and in-store execution, and separating bottling into a 3rd-party structure would create stronger accountability across the portfolio. In addition, Elliott Investment Management recommending the Company for operational changes, including the potential spin-off of its bottling operations, and the Company said it maintains an ongoing dialogue with shareholders and will review Elliott's proposals. Announcement • Sep 11
PepsiCo Appoints Sriram Iyer as Brand Marketing Director Sriram Iyer has been appointed as Brand Marketing Director at PepsiCo. In his new role, Iyer will be leading Quaker & Whitespace Innovations across the foods portfolio. Prior to this, Sriram Iyer was with Mahindra Group as Senior General Manager - Brand. Sriram Iyer is a seasoned professional with expertise in sales & marketing with over 16 years of experience. Buy Or Sell Opportunity • Sep 08
Now 20% undervalued Over the last 90 days, the stock has risen 7.5% to US$142. The fair value is estimated to be US$177, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Sep 03
Morixe Hermanos S.A.C.I. (BASE:MORI) acquired Elaboradora Argentina De Cereales S.R.L. from PepsiCo, Inc. (NasdaqGS:PEP) for approximately ARS 130 million. Morixe Hermanos S.A.C.I. (BASE:MORI) acquired Elaboradora Argentina De Cereales S.R.L. from PepsiCo, Inc. (NasdaqGS:PEP) for approximately ARS 130 million on September 1, 2025. A cash consideration of ARS 133.3 million will be paid by Morixe Hermanos S.A.C.I. As part of consideration, ARS 133.3 million is paid towards common equity of Elaboradora Argentina De Cereales S.R.L. The transaction included the Barracas plant and the Mágica polenta brand.
Morixe Hermanos S.A.C.I. (BASE:MORI) completed the acquisition of Elaboradora Argentina De Cereales S.R.L. from PepsiCo, Inc. (NasdaqGS:PEP) on September 1, 2025. Announcement • Sep 02
Elliott Sends Presentation to Board of Directors of PepsiCo On September 2, 2025, Elliott Investment Management L P announced that it has sent a letter and presentation to the PepsiCo's Board of Directors, stating that Company’s unique opportunity to re-accelerate growth and boost financial performance through greater focus, improved operations, strategic reinvestment and enhanced accountability, and Elliott Investment discussed Company's recent performance, which has been marked by a series of strategic and operational challenges, led to poor financial results, sharp stock-price underperformance and a highly dislocated valuation. In addition, Elliott Investment Management stated that the trajectory has created a historic opportunity, with the right mindset and an appropriately ambitious turnaround plan, Company represents a rare chance to revitalize a leading global enterprise and unlock significant shareholder value. Further, Elliott detailed a clear agenda focused on restoring business momentum, encouraged the Company’s management and Board to embrace change and work toward becoming a faster growing, higher margin and far more valuable company, and expressed its desire to work together to help Company build on its legacy of success and achieve its full potential. Upcoming Dividend • Aug 29
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 05 September 2025. Payment date: 30 September 2025. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 3.9%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (3.3%). Announcement • Aug 20
Johnny Rockets Teams Up with Pepsi to Launch Two Limited-Time Beverages Johnny Rockets is teaming up with PEPSI to launch two limited-time beverage offerings that are guaranteed to refresh taste buds and bring back the golden age of soda. Available now through the end of the year, guests can step back in time and enjoy the new MUG®?Root Beer Float and STARRY®?Shirley Temple at participating locations nationwide. Each new drink offering provides a modern twist on a fan-favorite beverage, the perfect complement to Johnny Rockets' classic American fare. Guests can sip on the MUG Root Beer Float, which combines real vanilla ice cream with bold, fizzy MUG Root Beer for a nostalgic treat, or the STARRY Shirley Temple, which blends cherry syrup and refreshing STARRY, topped with a maraschino cherry for the ultimate sweet sip. Announcement • Aug 15
PepsiCo, Inc. to Report Q3, 2025 Results on Oct 09, 2025 PepsiCo, Inc. announced that they will report Q3, 2025 results at 6:00 AM, Eastern Daylight on Oct 09, 2025 Announcement • Aug 08
7UP®? Pink Lemonade Lifts the Nation's Spirit with A Splash of Pink The majority of Brits (88%) believe that adding colour to their environment improves their overall mood, according to a new nationwide survey from 7UP®?. The UK wide research, commissioned to celebrate the launch of the new 7UP®? Pink Lemonade, reveals a national craving for moreibrancy in their every day, as nearly three-quarters (72%) admit that surroundings lacking in colour can leave them feeling "flat and uninspired." The solution may be simpler than expected. Not only does the study reveal that 9 in 10 Brits support colour being added to their local urban area as a way to boost public mood and visual appeal, it also uncovers pink as the colour that Gen Z respondents feel lifts their spirits the most. These playful pink murals and pop-up sampling windows will appear in London, Liverpool, and Manchester and act as beacons of fizz and fun, offering complimentary,ibly refreshing 7UP®? Pink Lemonades and exclusive merchandise, while stocks last. Declared Dividend • Jul 28
Second quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 5th September 2025 Payment date: 30th September 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. EPS is expected to grow by 38% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 25
PepsiCo, Inc. Declares Quarterly Dividend, Payable on September 30, 2025 The Board of Directors of PepsiCo, Inc. declared a quarterly dividend of $1.4225 per share of PepsiCo common stock, a 5% increase versus the comparable year-earlier period. This action is consistent with PepsiCo's previously announced increase in its annualized dividend to $5.69 per share from $5.42 per share, which began with the June 2025 payment. This dividend is payable on September 30, 2025 to shareholders of record at the close of business on September 5, 2025. Announcement • Jul 22
PepsiCo Launches First Ever Prebiotic Cola in Traditional Cola Category PepsiCo introduced Pepsi®? Prebiotic Cola, the evolution of cola created to reflect the tastes and values of today's cola lovers. This innovation includes 5 grams of sugar, has 30 calories, and contains no artificial sweeteners. It delivers the classic crisp, refreshing taste of Pepsi--with the added functional ingredient of 3 grams of prebiotic fiber. Available in 12 oz. single cans for trial and 8-packs of 12 oz. cans, the new offering will be available online this fall and at retail in early 2026, located in the traditional carbonated soft drink aisle alongside the full Pepsi portfolio. Pepsi Prebiotic Cola joins a stacked portfolio of Pepsi beverage offerings, including the #1 modern soda player, poppi, after the acquisition earlier this year. New Risk • Jul 21
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 110% Dividend yield: 4.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 110% Minor Risks High level of debt (234% net debt to equity). Large one-off items impacting financial results. Reported Earnings • Jul 21
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$0.92 (down from US$2.24 in 2Q 2024). Revenue: US$22.7b (up 1.0% from 2Q 2024). Net income: US$1.26b (down 59% from 2Q 2024). Profit margin: 5.6% (down from 14% in 2Q 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 55%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Beverage industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jul 01
PepsiCo Beverages U.S. Launches Thirst Guard PepsiCo Beverages U.S. announced the launch of "Thirst Guards" to bring ice-cold refreshment directly to fans at key lake destinations nationwide. Led by multi-award-winning country music superstar Cole Swindell, the campaign kicks off July 4th weekend and features on-demand delivery services and on-land takeovers to keep coolers full of Dew to deliver an unmatched energizing summer experience for adventure-seeking fans. Mountain Dew Thirst Guards program tackles summer's biggest party emergency - the empty cooler - by deploying Mountain Dew-branded Sea-Doos to bring bold, thirst-crushing refreshment directly to boaters and lake-goers at Lake of the Ozarks, MO. On July 5 and 6, fans with empty coolers can text (803)-MTN-DEWS and send their location for an emergency delivery of ice-cold Mountain Dew, while supplies last. The program ensures Mountain Dew enthusiasts never miss a moment of summer fun, providing the refreshment needed for long days on the water. Cole Swindell, a long-time Mountain Dew fan, will lead the Thirst Guards, making surprise deliveries to fans near MarineMax Osage Beach at Lake of the Ozarks on Sunday, July 6. This authentic partnership comes on the heels of Swindell's new studio album, Spanish Moss, and showcases the natural connection between the country star's carefree and energetic lifestyle and the adventurous brand ethos Mountain Dew is known for. Beyond Lake of the Ozarks, the Thirst Guards will also take over Lake Travis, TX, Miller Beach, IN and Myrtle Beach, SC with on-land beach stations packed with ice-cold Mountain Dew, creating an unmatched refreshment experience and keeping legendary summer excitement going all weekend long. Adventure seekers will also spot the latest Mountain Dew Drop, the brand's limited-edition merchandise collaboration program - a pioneering partnership with Pit Viper featuring two limited-edition sunglasses colorways on the Thirst Guards. Each pair features laser-engraved Mountain Dew logo detailing and hand-applied splatter paint accents, making each piece a one-of-a-kind expression of bold individuality. The designs are directly inspired by the most iconic Mountain Dew flavor expressions: Classic Green representing the original Mountain Dew with refreshing, citrus-forward color cues, and Mountain Dew Baja Blast bringing tropical lime flavor and sun-faded turquoise heat. The Mountain Dew x Pit Viper sunglasses deliver both style and performance for those who live life outside the lines. Each pair comes housed in collectible packaging plastered with a larger-than-life graphic of the Mountain Dew Dude, because as Mountain Dew fans know, subtlety isn't really the brand's thing. The exclusive collection will be available for purchase while supplies last starting July 16 exclusively on TikTok Shop. Announcement • Jun 09
PepsiCo, Inc. to Report Q2, 2025 Results on Jul 17, 2025 PepsiCo, Inc. announced that they will report Q2, 2025 results at 6:00 AM, US Eastern Standard Time on Jul 17, 2025 Upcoming Dividend • May 30
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 06 June 2025. Payment date: 30 June 2025. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 4.3%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.2%). Announcement • May 21
7UP®? Unveils Super Duper Refresher 7UP®? unveiled Super Duper Refresher - a new global platform grounded in the science of what makes a drink truly refreshing - the fusion of flavour, fizz, and cold temperature. Backed by sensory research and consumer insight, the platform reinforces 7UP's role in delivering the perfect thirst-quenching sip. Through new product launches, creative campaigns and real-world experiences, 7UP is setting a new standard in functional refreshment - making every sip not just satisfying, but unmistakably 7UP. Building on its multi-sensory approach, 7UP is also introducing a new music logo (MOGO) - a signature tune designed to capture the uplifting feeling of drinking a 7UP. Instantly recognisable and easy to recall, the sound adds a new layer to the brand experience and strengthens an emotional connection beyond the product itself. Now rolling out across markets, Super Duper Refresher is coming to life in ways that resonate with local consumers - from cooling down at social gatherings to elevating meals and refreshing cocktails or mocktails. The platform is built to resonate in the moments that matter most. In key markets, such as India, Pakistan, Egypt, and Saudi Arabia, the campaign will adopt a playful, culturally tailored narrative under the banner of 'Super Duper Refresher,' blending regional culture, humor and colloquialism into the brand story. This next chapter builds on nearly a century of heritage and innovation as 7UP expands its core portfolio, introducing new flavours and product ranges designed to tap into the core sensory elements of refreshment. These launches help demonstrate how local markets are owning the Super Duper Refresher platform - bringing it to life in bold new ways: The 7UP Extra Fizz range, emphasising fizz as a key component of the drinking experience, is now available in Egypt, and UAE, with launches planned for Saudi Arabia this summer. To celebrate Super Duper Refresher, 7UP brought a one-of-a-kind activation to Dubai's Kite Beach. Inspired by a lifeguard tower, the unmissable 7UP Mixology Tower was the ultimate destination to cool off. Customers savoured perfectly chilled 7UP extra fizz and next-level mixes, while enjoying a full-body refreshment with a cocktail-shaker shaped water sprayler and icy plunge pools. 7UP Mint Lemonade turns up the dial on refreshment in Pakistan, capturing Super Duper Refresher by offering a Crisp, cooling twist that elevates each sip, offering that instant minty refreshment. 7UP Pink Lemonade is a vibrant take on the classic zero-sugar range, blending lemon-lime with a burst of tangy raspberry for a sweet new serve of Super Duper Refreser, now debuting in the UK. With more flavours on the way, 7UP is drawing on local market insight to shape innovations that reflect evolving consumer tastes around the world. Announcement • May 20
PepsiCo, Inc. (NasdaqGS:PEP) completed the acquisition of VNGR Beverage LLC ("Poppi") from CAVU Consumer Partners,LLC and others. PepsiCo, Inc. (NasdaqGS:PEP) entered into a definitive agreement to acquire VNGR Beverage LLC ("Poppi") from CAVU Consumer Partners,LLC and others for $1.9 billion on March 16, 2025. PepsiCo agreed to acquire Poppi for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. The transaction is subject to customary closing conditions, including regulatory approval.
Centerview Partners LLC is acting as lead financial advisor to PepsiCo, and J.P. Morgan Securities LLC is also acting as a financial advisor to PepsiCo. Cravath, Swaine & Moore LLP is acting as legal advisor to PepsiCo, and Davis Polk & Wardwell LLP is acting as tax counsel to PepsiCo. Goldman Sachs & Co. LLC is acting as financial advisor to poppi, and Nick Davis, Erin Kirchner,John Robertson,Colleen Badgley,Megan Browdie, Jonathan Rivinus and Keith Berets of Cooley LLP is acting as legal advisor to poppi.
PepsiCo, Inc. (NasdaqGS:PEP) completed the acquisition of VNGR Beverage LLC ("Poppi") from CAVU Consumer Partners,LLC and others on May 19, 2025. Declared Dividend • May 10
First quarter dividend increased to US$1.42 Dividend of US$1.42 is 5.0% higher than last year. Ex-date: 6th June 2025 Payment date: 30th June 2025 Dividend yield will be 4.2%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (102% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 07
PepsiCo, Inc. Declares Quarterly Dividend, Payable on June 30, 2025 The board of directors of PepsiCo, Inc. declared a quarterly dividend of $1.4225 per share of the company common stock, a 5% increase versus the comparable year-earlier period. This action is consistent with the company's previously announced increase in its annualized dividend to $5.69 per share from $5.42 per share, which is expected to begin with the June 2025 payment. This dividend is payable on June 30, 2025 to shareholders of record at the close of business on June 6, 2025. Reported Earnings • Apr 25
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: US$1.34 (down from US$1.49 in 1Q 2024). Revenue: US$17.9b (down 1.8% from 1Q 2024). Net income: US$1.83b (down 10% from 1Q 2024). Profit margin: 10% (down from 11% in 1Q 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Beverage industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Mar 31
PepsiCo, Inc., Annual General Meeting, May 07, 2025 PepsiCo, Inc., Annual General Meeting, May 07, 2025. Announcement • Mar 17
PepsiCo, Inc. (NasdaqGS:PEP) agreed to acquire VNGR Beverage LLC from CAVU Consumer Partners,LLC and others for $1.9 billion. PepsiCo, Inc. (NasdaqGS:PEP) agreed to acquire VNGR Beverage LLC ("Poppi") from CAVU Consumer Partners,LLC and others for $1.9 billion on March 17, 2025. PepsiCo agreed to acquire Poppi for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. The transaction is subject to customary closing conditions, including regulatory approval.
Centerview Partners LLC is acting as lead financial advisor to PepsiCo, and J.P. Morgan Securities LLC is also acting as a financial advisor to PepsiCo. Cravath, Swaine & Moore LLP is acting as legal advisor to PepsiCo, and Davis Polk & Wardwell LLP is acting as tax counsel to PepsiCo. Goldman Sachs & Co. LLC is acting as financial advisor to poppi, and Cooley LLP is acting as legal advisor to poppi. Announcement • Mar 13
PepsiCo, Inc. to Report Q1, 2025 Results on Apr 24, 2025 PepsiCo, Inc. announced that they will report Q1, 2025 results on Apr 24, 2025 Recent Insider Transactions • Mar 06
Chairman & CEO recently sold US$7.7m worth of stock On the 3rd of March, Ramon Laguarta sold around 50k shares on-market at roughly US$155 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ramon's only on-market trade for the last 12 months. Announcement • Mar 06
PepsiCo Appoints Om Jha as Director- Global Media Capabilities PepsiCo has elevated Om Jha to the role of Director - Global Media Capabilities. Om Jha was earlier Director - Media, Data, Marketing Capabilities and Partnerships for nearly 3 years at PepsiCo. Prior to that, he was Head of Media and Partnerships. Om Jha joined Pepsi after moving on from Disney Star where he was Assistant Vice President - Customer Strategy. He was also Senior Director - Strategy with GroupM. Om has also been associated with Airtel and KPMG in senior positions. Recent Insider Transactions Derivative • Mar 04
Chairman & CEO notifies of intention to sell stock Ramon Laguarta intends to sell 50k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of March. If the sale is conducted around the recent share price of US$155, it would amount to US$7.7m. For the year to December 2018, Ramon's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Ramon currently holds less than 1% of total shares outstanding. Company insiders have collectively sold US$3.4m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Feb 28
Upcoming dividend of US$1.36 per share Eligible shareholders must have bought the stock before 07 March 2025. Payment date: 31 March 2025. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.9%). Declared Dividend • Feb 09
Fourth quarter dividend of US$1.36 announced Shareholders will receive a dividend of US$1.36. Ex-date: 7th March 2025 Payment date: 31st March 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (109% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 06
PepsiCo, Inc. Declares Quarterly Dividend, Payable on March 31, 2025 The Board of Directors of PepsiCo, Inc. declared a quarterly dividend of $1.355 per share of PepsiCo common stock, a 7% increase versus the comparable year-earlier period. The action is consistent with PepsiCo's prior year, previously announced increase in its annualized dividend to $5.42 per share from $5.06 per share, which began with the June 2024 payment. This dividend is payable on March 31, 2025 to shareholders of record at the close of business on March 7, 2025. In addition, on February 4, 2025, PepsiCo announced a 5% increase in its annualized dividend to $5.69 per share from $5.42 per share, which is expected to begin with the June 2025 payment. Reported Earnings • Feb 04
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$6.98 (up from US$6.59 in FY 2023). Revenue: US$91.9b (flat on FY 2023). Net income: US$9.58b (up 5.6% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.9%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Beverage industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jan 17
PepsiCo, Inc. (NasdaqGS:PEP) completed the acquisition of Garza Food Ventures, LLC from Garza family. PepsiCo, Inc. (NasdaqGS:PEP) entered into an agreement to acquire Garza Food Ventures, LLC from Garza family for $1.2 billion on October 1, 2024. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first half of 2025. Centerview Partners LLC acted as lead financial advisor to PepsiCo. Citi acted as financial advisor. Gibson Dunn & Crutcher LLP acted as legal advisor to PepsiCo. Lazard acted as financial advisor to Siete and Gareth Clark, Barrett Schitka, Carla Hine, Jason Vollbracht, Aimee Adler, Karen Ballack, Catherine Kim, Olivia Greer, Vynessa Nemunaitis, Simon Heimowitz, Leslie Smith, Timothy Welch, John O’Loughlin, Matthew Morton and Rebecca Sivitz of Weil, Gotshal & Manges LLP, as well as Armbrust & Brown, PLLC are acting as legal advisors to Siete.
PepsiCo, Inc. (NasdaqGS:PEP) completed the acquisition of Garza Food Ventures, LLC from Garza family on January 17, 2025. Announcement • Jan 15
Pepsico Reportedly Joins Haldiram Snacks Queue PepsiCo, Inc. (NasdaqGS:PEP) has made a late entry into the competition for a stake in Haldiram Snacks Pvt. Ltd., executives aware of developments said. Key contenders Temasek and Alpha Wave Global, the latter also a late-stage bidder, are said to be in advanced talks with the Aggarwal family, the founders of India’s largest ethnic snacks and convenience foods maker, having made firm offers last month for a 10-15% stake. Executives from PepsiCo headquarters in New York have initiated talks directly with members of the Aggarwal family for buying a minority stake in recent weeks. However, these are still exploratory and may not lead to a formal transaction, said the people cited. The Indian unit’s leadership is said to be playing a smaller role. The Indian unit’s leadership is said to be playing a smaller role. The Aggarwals are expecting a valuation of INR 850-900 billion as they seek to rope in an external investor for the first time. Announcement • Jan 13
PepsiCo, Inc. Appoints Retirement of George Kovoor as Senior Vice President PepsiCo, Inc. announced retirement of George Kovoor, as senior vice president and general manager for India Beverages. 
