Coca-Cola Boosts Quarterly Dividend
ATLANTA (AP) _ Coca-Cola Co. said Thursday it raised its quarterly dividend to 22 cents from 20 cents and named five officers to executives posts.
The Atlanta-based beverage giant said the dividend is payable April 1, to shareholders of record March 15.
The annual dividend is now 88 cents, up from 80 cents in 2002.
Meanwhile, Coca-Cola gave the additional title of executive vice president to Chief Financial Officer Gary Fayard and Jose Octavio Reyes, the president and chief operating officer of Coca-Cola Latin America.
The company said Clyde Tuggle, director of worldwide public affairs and communications, and Sandy Douglas, chief customer officer, were named senior vice presidents.
It made Steve Vonderhaar, chief of internal audit, a vice president.
Also, Coca-Cola nominated Maria Elena Lagomasino for election to the board. Lagomasino is chairman and chief executive of J.P. Morgan Private Bank, a unit of J.P. Morgan Chase & Co.
In February, Coca-Cola’s board decided to increase its size to 14 directors from 12.
Shares of Coca-Cola closed Thursday at $40.05, down 62 cents, or 1.5 percent, on the New York Stock Exchange.