PepsiCo Raises Dividend, Marches Toward Dividend King Status
International beverage and snack giant PepsiCo (NASDAQ: PEP) announced it would be raising its dividend by 5%. The company has long been a Dividend Aristocrat, a term designated for companies that have paid and increased their dividend for at least 25 years.
In fact, PepsiCo's increase in 2022 put it in a position to earn the Dividend King designation reserved for companies that have paid and increased their dividend for 50 consecutive years. This is a feat so rare that only 31 companies held the status in 2021. For retirees who depend on dividend income, stocks with the Dividend King status offer an extra degree of reliability.
PepsiCo is on its way to becoming a Dividend King in 2022. Image source: Getty Images.
Source Fool.com
