Coca-Cola Consolidated Unveils Dividend Boost and Buyback Plan
Coca-Cola Consolidated Announces Dividend Increase and Share Repurchase Program
Coca?Cola Consolidated, Inc. (NASDAQ: COKE) announced today that its Board of Directors increased the Company’s quarterly dividend to $2.50 per share, up from $0.50 per share. The increased dividend will be payable to Common Stock and Class B Common Stock stockholders of record.
Share Repurchase Program
The Company’s Board of Directors also approved a $1.0 billion share repurchase program for the Company’s Common Stock. The authorization to repurchase shares is at management’s discretion concerning timing and amount.
Leadership Statement
“As we’ve previously stated, the progress we’ve made improving our profitability and strengthening our balance sheet allows us to reinvest in our business and our teammates while taking steps to build long-term value for our stockholders,” said J. Frank Harrison, III, Chairman and Chief Executive Officer. “Our strong financial performance supports increasing our quarterly dividend and establishing a share repurchase program, which aligns with our commitment to return cash to our stockholders over time.”
About Coca-Cola Consolidated, Inc.
Coca?Cola Consolidated is the largest Coca?Cola bottler in the United States. Our purpose is to honor God in all we do, to serve others, to pursue excellence, and to grow profitably. For over 122 years, we have been deeply committed to the consumers, customers, and communities we serve, offering a broad portfolio of beverages and services. We make, sell, and distribute beverages of The Coca?Cola Company and other partner companies in more than 300 brands and flavors across 14 states and the District of Columbia, serving approximately 60 million consumers.
Company Contacts
Ashley Brown (Media) - Director, External Communications, (803) 979-2849, Ashley.Brown@cokeconsolidated.com
Scott Anthony (Investors) - Executive Vice President & Chief Financial Officer, (704) 557-4633, Scott.Anthony@cokeconsolidated.com
Frequently Asked Questions
What is the new dividend amount for Coca-Cola Consolidated?
The quarterly dividend has been increased to $2.50 per share.
What is the total amount for the share repurchase program?
The Board of Directors approved a share repurchase program totaling $1.0 billion.
What does the company aim to achieve with the share repurchase program?
The program aims to enhance long-term stockholder value by repurchasing shares at management's discretion.
Who is the CEO of Coca-Cola Consolidated?
J. Frank Harrison, III is the Chairman and Chief Executive Officer of Coca-Cola Consolidated.
How many brands does Coca-Cola Consolidated offer?
Coca-Cola Consolidated distributes over 300 brands and flavors of beverages.
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