Pepsico (PEP) Rewards Investors By Buying Back Shares

Pepsico (PEP) announced that they will be buying back up to $15 billion in shares. Shares are up 1.6% on news of the stock repurchases. The stock buyback will take place over the next 3 years and will run through June 2013. Pepsi (PEP) also announced a 7% dividend increase raising the company's dividend to $1.92 per share from $1.80. Pepsi has a history of rewarding its investors with its generous dividend payout. The dividend increase is the 38th consecutive increase for Pepsi investors.