The Board of Directors of The Coca-Cola Company Increases Annual Dividend by 10 Percent
Board Approves 51st Consecutive Annual Dividend Increase
Elects Ahmet Bozer, Steve Cahillane, Sandy Douglas as Officers
ATLANTA--(BUSINESS WIRE)-- 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.
Cahillane, 47, oversees Coca-Cola Americas, which consists of the Company's North America and Latin America operations. Before assuming his current role, Cahillane served as President and CEO of Coca-Cola Refreshments (CCR), an operating unit representing nearly 90 percent of the North American business of The Coca-Cola Company.
Prior to leading CCR, Cahillane was President of Coca-Cola Enterprises’ (CCE) North American business. He has spent his entire career in the beverage industry in North America and Europe, including leadership roles at Coors and InBev. Labatt USA, and Interbrew UK and Ireland. In 2007, he was appointed President of the Europe Group for CCE and in 2008 he was named President of CCE's North American Business Unit.
As Global Chief Customer Officer, Douglas, 51, leads strong, strategic relationships with customers around the world to ensure that Coca-Cola is known globally as an organization that delivers world-class value and service to customers. He also continues to lead the North America franchise strategy. Prior to this appointment, he was President of the Coca-Cola North America Group.
Douglas joined The Coca-Cola Company in January 1988 as a District Sales Manager for the Foodservice Division of Coca-Cola USA and has held positions of increasing responsibility. He was named Vice President of Coca-Cola USA in 1994, and was appointed President of the North America Retail Division in 2000.
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About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 16 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of more than 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or check out our blog, Coca-Cola Unbottled, at www.coca-colablog.com.
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Source: The Coca-Cola Company
Released February 21, 2013