Keurig Dr Pepper stock pops 2% premarket after company raises annualized dividend rate by 6.7% to 80 cents a share

Keurig Dr Pepper shares KDP, +0.81% rose 2% in premarket trade Wednesday, after the drinks company said its board has approved a 6.7% increase in its annualized dividend rate to 80 cents a share from 75 cents. The new dividend comes into effect with the quarterly dividend that was announced today, the company said in a release. The increased quarterly dividend of 20 cents a share will be payable Oct. 14 to shareholders of record as of Sept. 30. Shares have gained 2.3% in the year to date, while the S&P 500 SPX, +0.07% has fallen 17%.