It’s been a less-than-stellar start to the year for Dr. Pepper Snapple Group (NYSE: DPS). Perhaps tomorrow’s dividend increase will be the perfect cure for what’s ailing the beverage company.
Dr. Pepper is upping its quarterly dividend from 34 cents to 38 cents per share tomorrow. That’s an 11.8% increase, bringing the stock’s yield to an impressive 3.5%. That’s more generous than Coke’s (NYSE: KO) 2.9% yield and Pepsi’s (NYSE: PEP) 2.8% yield.
The company’s improved generosity is starting to have a positive impact on its share price. The stock is up 4.5% since February 20, recovering most of its losses following an underwhelming earnings report in mid-February. DPS shares even managed to plow through the near-soda ban in New York City.
Other companies going ex-dividend tomorrow are:
- Macy’s (NYSE: M): $0.20/share, 1.95% yield
- World Wrestling Entertainment (NYSE: WWE): $0.12/share, 5.5% yield
- Western Union (NYSE: WU): $0.50/share, 3.5% yield