Coca-Cola Consolidated Announces Dividend Increase and Share Repurchase Program
Coca-Cola Consolidated, Inc. (NASDAQ: COKE) has announced that its Board of Directors has raised the Company’s quarterly dividend to $2.50 per share, a significant increase from the previous $0.50 per share. This new dividend will be distributed to stockholders of both Common Stock and Class B Common Stock who are on record.
Share Repurchase Program
Additionally, the Board of Directors has authorized a $1.0 billion share repurchase program for the Company’s Common Stock. The decision on when and how much to repurchase will be left to management's discretion.
Leadership Statement
“As we’ve mentioned before, the strides we’ve made in enhancing our profitability and solidifying our balance sheet enable us to reinvest in our business and our team while also working to create long-term value for our stockholders,” stated J. Frank Harrison, III, Chairman and Chief Executive Officer. “Our robust financial performance supports the increase in our quarterly dividend and the establishment of a share repurchase program, reflecting our dedication to returning 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 mission is to honor God in everything we do, to serve others, to strive for excellence, and to achieve profitable growth. For more than 122 years, we have been committed to our consumers, customers, and the communities we serve, providing a diverse range of beverages and services. We produce, sell, and distribute drinks from The Coca-Cola Company and other partner brands, offering over 300 varieties and flavors across 14 states and the District of Columbia, reaching around 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.