The Coca-Cola Co. (KO) said Thursday its Board has approved a 10 percent increase in quarterly dividend to 28 cents per common share from 25.5 cents. This is equivalent to an annual dividend of $1.12 per share, up from $1.02 per share in 2012.
The first quarterly dividend is payable April 1, 2013, to shareowners of record as of March 15, 2013.
Ahmet Bozer, Executive Vice President of The Coca-Cola Co., and President of Coca-Cola International said the increase reflects the Board's confidence in the company's long-term cash flow.
The Board today also elected Ahmet Bozer, and Steven Cahillane, President, Coca-Cola Americas, as Executive Vice Presidents of the company, and Alexander "Sandy" Douglas, Jr., Global Chief Customer Officer, as a Senior Vice President of the company.
Bozer, Cahillane and Douglas each assumed their current roles effective January 1 as part of the company's new global operating structure announced last July.
Bozer oversees Coca-Cola International, which consists of the company's Europe, Pacific and Eurasia & Africa operations. Before assuming his current role, Bozer served as President, Eurasia & Africa Group, where he led the company's business activities in more than 90 countries.
Cahillane oversees Coca-Cola Americas, which consists of the company's North America and Latin America operations. Before assuming his current role, Cahillane served as President and CEO of Coca-Cola Refreshments.
As Global Chief Customer Officer, Douglas leads strong, strategic relationships with customers around the world to ensure that Coca-Cola is known globally as an organization that delivers world-class value and service to customers. He also continues to lead the North America franchise strategy. Prior to this appointment, he was President of the Coca-Cola North America Group.
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