CHARLOTTE, N.C. - Coca-Cola (NYSE:KO) Consolidated, Inc. (NASDAQ: COKE), the largest bottler of Coca-Cola products in the United States, has declared a quarterly dividend of $0.50 per share for the second quarter of 2024. This dividend will be payable on May 10, 2024, to shareholders of record at the close of business on April 26, 2024.
The announcement reflects the company's ongoing commitment to providing returns to its shareholders. Coca-Cola Consolidated has a long-standing history of serving customers and communities with a wide range of beverages. The company operates in 14 states and the District of Columbia, catering to approximately 60 million consumers with more than 300 brands and flavors.
Coca-Cola Consolidated has been a significant player in the beverage industry for over 122 years, emphasizing its dedication to quality and service. While the company's purpose includes honoring God and serving others, it also focuses on pursuing excellence and growing profitably.
The dividend declaration is a routine aspect of the company's financial management, and it is a signal of the company's financial health and its ability to generate sufficient profits to share with its investors.
As a publicly-traded entity on the Nasdaq Global Select Market, Coca-Cola Consolidated maintains transparency with its financial activities and ensures that its shareholders are informed about key decisions that affect their investments.
This financial update is based on a press release statement from Coca-Cola Consolidated, Inc. and provides shareholders and the broader investment community with the latest dividend information from the company.
InvestingPro Insights
Coca-Cola Consolidated's latest dividend announcement underscores the company's robust financial position and its commitment to rewarding shareholders. With a market capitalization of $7.66 billion and a promising P/E ratio of 18.6, which adjusts to a more attractive 12.74 when looking at the last twelve months as of Q4 2023, the company continues to showcase its stability in the market.
An important highlight from the InvestingPro Tips is Coca-Cola Consolidated's impressive track record of maintaining dividend payments for 53 consecutive years, demonstrating a consistent return to shareholders. In addition, the company has achieved a high return over the last year, with a one-year price total return of 62.62%, reflecting investor confidence and a strong market performance.
The financial health of Coca-Cola Consolidated is further evidenced by its liquid assets surpassing short-term obligations and a moderate level of debt, suggesting a prudent approach to financial management. The company's revenue growth of 7.3% over the last twelve months as of Q4 2023 also indicates a solid operational performance.
For investors looking to delve deeper into the company's prospects, there are additional InvestingPro Tips available, including predictions of profitability for the current year and a profitable track record over the last twelve months.
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