PepsiCo raises dividend by 7%

PepsiCo Inc. PEP, +0.15% said late Thursday its board of directors approved a dividend of $1.15 a share, a 7% increase. That’s consistent with PepsiCo’s previously announced increase in its dividend to $4.60 a share from $4.30 a share, which began with the June payment, the snack and beverage company said. The dividend is payable on Sept. 30 to shareholders of record on Sept. 2. Shares of Pepsico rose 0.5% in the extended session after ending the regular trading day up 0.2%.