Keurig Dr Pepper Inc Stock Price, News & Analysis

Keurig Dr Pepper (NASDAQ: KDP) announced a public offering of senior notes and plans to enter a new 364-day revolving credit facility. The proceeds will fund the redemption of certain unsecured notes and repay a term loan maturing in February 2023. CFO Ozan Dokmecioglu highlighted the company's strong cash flow since the merger, leading to an upgrade from Moody's Investor Services. This refinancing aims to enhance liquidity and support KDP's three-year merger targets established in 2018.

Keurig Dr Pepper (KDP) reported robust financial results for Q4 and FY 2020, highlighting net sales of $3.12 billion in Q4, a 6.4% increase year-over-year, and $11.62 billion for the full year, up 4.5%. Adjusted diluted EPS rose to $0.39 in Q4 and $1.40 for the year, marking increases of 11.4% and 14.8% respectively. The company announced a 25% dividend increase to $0.75 per share starting Q2 2021. Despite challenges from COVID-19, KDP gained market share across 90% of its cold beverage retail base, adding 3 million new households to its Keurig system.

Keurig Dr Pepper (KDP) announced a 25% increase in its annualized dividend rate from $0.60 to $0.75 per share, effective with its regular quarterly dividend in early Q2 2021. The company expects 12.5% and 11.1% growth in dividends for 2021 and 2022, respectively, while maintaining a payout ratio under 50% of free cash flow. A quarterly dividend of $0.15 per share will be paid on April 15, 2021 to shareholders of record on April 1, 2021. CEO Ozan Dokmecioglu highlighted the strong free cash flow supporting this decision.

Keurig Dr Pepper (NASDAQ: KDP) has appointed Justin Whitmore as the new Chief Strategy Officer, effective March 1. He will join the Executive Leadership Team and oversee strategy development, including mergers and acquisitions. Whitmore previously held roles at Tyson Foods and McKinsey & Company, focusing on global growth and sustainability. KDP generates over $11 billion in annual revenue and employs nearly 26,000 people, positioning itself as a leading beverage company in North America.

Keurig Dr Pepper will announce its financial results for Q4 2020 on February 25, 2021, before market opens. A conference call is scheduled for the same day at 8:00 AM ET, allowing investors to discuss results. Participants can join via U.S. toll-free number (855) 706-1600 or international number (615) 622-8563 with conference ID 3098537. A replay will be available until March 11, 2021. The event will also be accessible through a live audio webcast on the company's website.

Keurig Dr Pepper (KDP) has become a signatory of the Ellen MacArthur Foundation's U.S. and Canada Plastics Pacts, aimed at creating a circular economy for plastics. The company has set four goals to achieve by 2025, including making all plastic packaging reusable, recyclable, or compostable, and ensuring 30% recycled content in packaging. Additionally, KDP has joined the Trash Free Seas Alliance to combat ocean plastic pollution. The company's commitment to sustainability aligns with its corporate responsibility program and its goal to convert all packaging to recyclable or compostable by 2025.

Keurig Dr Pepper (NASDAQ: KDP) appointed Juliette Hickman as a director of its board effective January 18, 2021. Hickman brings over 20 years of investment experience, notably in the global beverage industry, having worked previously as an investment analyst at the Capital Group Companies. KDP's Chairman and CEO Bob Gamgort expressed confidence in Hickman's expertise in corporate strategy, financial analysis, and risk assessment, anticipating her contributions will enhance value creation at KDP.