Coca-Cola Raises Quarterly Dividend, Moves To Acquire BodyArmor: What You Need To Know
Coca-Cola Co's (NYSE: KO)'s dividend got a little sweeter Thursday.
Coca-Cola approved the company’s 59th consecutive annual dividend increase, raising the quarterly dividend 2.4% from 41 cents to 42 cents per common share.
The dividend increase is applicable for outstanding shares of Coca-Cola.
A report Friday from BevNet revealed that Coke might move forward in acquiring popular sports drink BodyArmor.
“We can confirm that The Coca-Cola Company has filed a pre-acquisition notification with the Federal Trade Commission (FTC) relating to its intent to acquire a controlling interest in BodyArmor,” Coke told BevNET.
“In 2018, Coca-Cola became a shareholder in BodyArmor, in a deal that was structured to create value for both companies while also defining a path to ownership in the future. Until closing, both companies will continue to operate independently in accordance with their existing agreement.”
Why It Matters: The Coke brand is far more than soda pop in 2021, what with the family of drink choices consisting of health-conscious, nutritious options like Smart Water, Honest Teas and fairlife dairy products.
It can be said BodyArmor is a direct competitor to Coke’s popular electrolyte sports drink Powerade. The acquisition would allow Coke to further expand its market share in the sports drink space.
KO Price Action: Shares of Coca-Cola were trading down 0.27% at $50.60 at last check Friday.
Coke has a 52-week high of $60 and a 52-week low of $36.27.
See Also: How To Buy Coca-Cola Stock.
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