Welcome to our dedicated page for Coca-Cola Consolidated news (Ticker: COKE), a resource for investors and traders seeking the latest updates and insights on Coca-Cola Consolidated stock.
Coca-Cola Consolidated Inc. (COKE), the largest independent Coca-Cola bottler in the United States, provides investors with critical updates through this dedicated news hub. Track official press releases, financial disclosures, and strategic developments from the company servicing 60 million consumers across 14 states.
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Coca-Cola Consolidated, Inc. (NASDAQ: COKE), the largest Coca-Cola bottler in the United States, has announced it will release its second quarter and first half 2024 financial results on July 31, 2024, after market close. The report will cover the period ended June 28, 2024. As a key player in the beverage industry, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia, offering over 300 brands and flavors of beverages from The Coca-Cola Company and other partners. The company, headquartered in Charlotte, N.C., has a rich history spanning 122 years and is committed to serving its communities while pursuing excellence and profitable growth.
Coca-Cola Consolidated, the largest Coca-Cola bottler in the United States, announced a third quarter dividend of $0.50 per share for 2024. This dividend applies to both Common Stock and Class B Common Stock. The dividend will be paid on August 9, 2024, to shareholders who are recorded as of the close of business on July 26, 2024.
Headquartered in Charlotte, NC, Coca-Cola Consolidated serves approximately 60 million consumers across 14 states and the District of Columbia. The company is listed on the Nasdaq Global Select Market under the symbol 'COKE'.
Coca-Cola Consolidated (NASDAQ: COKE) announced the final results of its modified Dutch auction tender offer, which ended on June 18, 2024. The company accepted 14,391.5 shares at $925 each, totaling approximately $13.3 million. This represents 0.2% of the company’s outstanding common stock as of June 18, 2024.
Following the tender offer, Coca-Cola Consolidated will buy 598,619 shares from Carolina Coca-Cola Bottling Investments (CCCBI) for about $553.7 million. This will ensure CCCBI holds 21.5% of the company’s shares post-transaction. The repurchase is expected to close on July 5, 2024.
The company may consider further share repurchases based on market conditions, its business and financial health, and other factors.
Coca-Cola Consolidated announced the preliminary results of its modified 'Dutch auction' tender offer, which expired on June 18, 2024. A total of 14,392.5 shares were tendered and not withdrawn at or below the purchase price of $925 per share. The company expects to accept these shares for a total cost of approximately $13.3 million. This represents about 0.2% of the outstanding shares as of June 18, 2024. Additionally, Coca-Cola Consolidated plans to repurchase 598,619 shares from Carolina Coca-Cola Bottling Investments, an indirect subsidiary of The Coca-Cola Company, for approximately $553.7 million. CEO J. Frank Harrison, III, expressed satisfaction with the results, interpreting the undersubscribed tender offer as a sign of shareholder confidence. The final numbers are subject to confirmation by the Depositary, with formal announcements and payments expected shortly after.
Coca-Cola Consolidated (NASDAQ: COKE) has announced the start of a modified 'Dutch auction' tender offer to buy back up to $2.0 billion of its common stock. Shareholders can tender their shares at a price between $850 and $925 per share or opt for a non-specified purchase price. The company will use a mix of cash, credit, and potentially new loans and senior unsecured notes to fund the tender offer. The tender offer will expire on June 18, 2024, unless extended or terminated. The offer is subject to a Financing Condition requiring the company to secure at least $2.5 billion in aggregate proceeds from new term loans or notes. Innisfree M&A will act as information agent and Equiniti Trust as the depositary. The company's Board of Directors has authorized the offer, but no recommendations are provided on whether shareholders should tender their shares.
Coca-Cola Consolidated reported strong first-quarter results with an increase in income from operations, operating margin, and gross profit. The company plans to repurchase up to $3.1 billion of its Common Stock. Net sales increased by 1%, driven by a price increase and improved volume in the Sparkling category. The company's gross margin improved by 50 basis points, and net income saw a significant improvement. The Company also announced its intention to utilize debt to optimize its balance sheet and return cash to stockholders.
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