The board of directors of PepsiCo, Inc., declared a quarterly dividend of $1.075 per share of common stock, a 5 percent increase versus the comparable year-earlier period.

The action is consistent with the company’s previously announced increase in its annualised dividend to $4.30 per share from $4.09 per share, which began with the June 2021 payment.

This dividend is payable on January 7, 2022, to shareholders of record at the close of business on December 3, 2021. The company has paid consecutive quarterly cash dividends since 1965, and 2021 marked the company’s 49th consecutive annual dividend increase