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The Coca-Cola Company Announces Nomination of New Director and Approves 61st Consecutive Annual Dividend Increase
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
managementdividends
Rhea-AI Summary
The Coca-Cola Company (KO) announced that Amity Millhiser has been nominated for election to its Board of Directors at the Annual Meeting in April. If elected, she will join effective July 1, following her retirement from PwC on June 30. Coca-Cola also declared a 4.6% increase in its quarterly dividend, raising it from 44 cents to 46 cents per share, which will be payable on April 3 to shareholders of record as of March 17. This marks the company's 61st consecutive annual dividend increase, with a total payout of $7.6 billion in dividends to shareholders in 2022 and $76.8 billion since 2010.
Positive
Amity Millhiser's nomination to the Board may enhance governance and strategic oversight.
The 4.6% increase in quarterly dividends signals robust financial health, benefiting shareholders.
Negative
None.
ATLANTA--(BUSINESS WIRE)--
The Board of Directors of The Coca-Cola Company today announced that business leader Amity Millhiser has been nominated to stand for election to the board at the company’s Annual Meeting of Shareowners in April.
Amity Millhiser (Photo: Business Wire)
If elected by shareowners, she will begin her service as a Coca-Cola director effective July 1, following her retirement from PricewaterhouseCoopers LLP on June 30.
The company also announced its 61st consecutive annual dividend increase, raising the quarterly dividend approximately 4.6 percent from 44 cents to 46 cents per common share.
About Amity Millhiser
Millhiser, 59, is a partner and Vice Chair at PwC, where she serves as a senior counsel for clients ranging from high-growth startups to market-leading multinationals. She was formerly the Chief Clients Officer and a member of PwC’s U.S. Leadership Team, where she was responsible for overseeing key client relationships and driving growth through PwC’s 15-plus industries and 90-plus U.S. markets.
Millhiser founded the firm’s Switzerland-based Transaction Services Practice, a Center of Excellence for U.S./European cross-border deals, and served as the Market Managing Partner of PwC’s Silicon Valley practice. She has deep transaction experience that includes acquisitions, divestitures, capital market transactions and IPOs and has been one of the U.S. firm’s leading advisers on digital and emerging technologies as well as digital and organizational transformations.
Millhiser is a vocal advocate for women in leadership. She was recognized as one of the National Diversity Council’s Top 50 Most Powerful Women in Technology in 2015 and one of Silicon Valley’s Women of Influence in 2012.
Millhiser is a graduate of the University of California at Berkeley.
She is expected to be a member of the board’s audit committee. The addition of one director would expand Coca-Cola’s board to 13 members.
Dividend Increase
The Board of Directors also approved raising the quarterly dividend approximately 4.6 percent from 44 cents to 46 cents per common share.
The quarterly dividend is equivalent to an annual dividend of $1.84 per share, up from $1.76 per share in 2022. The first quarter dividend is payable April 3 to shareowners of record as of March 17.
The company returned $7.6 billion in dividends to shareowners in 2022, bringing the total amount of dividends paid to shareowners since Jan. 1, 2010, to $76.8 billion.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.
