PepsiCo Inc.  (PEP) - Get Report   topped earnings estimates in the fourth quarter but sales slowed at its beverages division.

Shares closed on Tuesday, Feb. 13, at $112.48, up slightly.

Adjusted earnings in the quarter were $1.31 a share, 1 cent ahead of estimates. Net revenue in the quarter was $19.53 billion, flat with a year earlier.

Sales at the company's North American beverages business fell 6%. PepsiCo said Tuesday, that higher costs of raw materials, operating cost inflation, restructuring charges and hurricane-related costs hurt sales at the beverage division.

"We are pleased with our performance with our performance for the fourth quarter and full year 2017," said Chairman and CEO Indra Nooyi. "We met or exceeded most of the financial goals we set out at the beginning of the year. We delivered these results in the midst of a dynamic retail environment and rapidly shifting consumer landscape."

Pepsi said it expects 2018 earnings of $5.70 a share, 7 cents below Wall Street forecasts. In addition, the company expects to return some $7 billion to shareholders this year, with cash dividends accounting for $5 billion. It expects full-year organic revenue growth in 2018 roughly in line with 2017. 

The maker of Pepsi sodas, Frito-Lay and Quaker Foods also announced it would hike its annual dividend by 15% a share, beginning with the June 2018 payment.

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