The Board of Directors of The Coca-Cola Company today approved the Company's 51st consecutive annual dividend increase, raising the quarterly dividend 10 percent from 25.5 cents to 28 cents per common share. This is equivalent to an annual dividend of $1.12 per share, up from $1.02 per share in 2012. The first quarterly dividend is payable April 1, 2013, to shareowners of record as of March 15, 2013.
Ahmet C. Bozer, Executive Vice President of The Coca-Cola Company, and President of Coca-Cola International (Photo: Business Wire)
The increase reflects the Board's confidence in the Company's long-term cash flow. The Coca-Cola Company returned $9.1 billion to shareowners in 2012, through $4.6 billion in dividends and $4.5 billion in share repurchases, bringing to $24.9 billion the amount returned to shareowners through dividends and share repurchases since Jan. 1, 2010.
The Board today also elected Ahmet C. Bozer, President, Coca-Cola International, and Steven A. Cahillane, President, Coca-Cola Americas, as Executive Vice Presidents of the Company, and J. Alexander “Sandy” Douglas, Jr., Global Chief Customer Officer, as a Senior Vice President of the Company. These Board elections are effective immediately.
Bozer, Cahillane and Douglas each assumed their current roles effective Jan. 1 as part of the Company’s new global operating structure announced last July.Bozer, 52, oversees Coca-Cola International, which consists of the Company’s Europe, Pacific and Eurasia & Africa operations. Before assuming his current role, Bozer served as President, Eurasia & Africa Group, where he led the Company’s business activities in more than 90 countries. Bozer began his career with The Coca-Cola Company in 1990 as a Financial Control Manager in Atlanta then moved to Turkey in 1992 as Region Finance Manager. In 2000, he became President of the Eurasia Division and six years later assumed responsibility for the Russia, Ukraine and Belarus Division. In 2007, with the addition of the India and South West Asia Division under his responsibilities, he was named President of the Eurasia Group. In 2008, with the merger of the Eurasia and Africa Groups, he assumed Group Presidency of the Eurasia and Africa Group.