Dr Pepper Snapple to Buy Back an Additional $1 Billion in Shares (DPS)

By Dividend.com Staff,

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Beverage giant Dr Pepper Snapple Group Inc. ( DPS ) on Tuesday said its board of directors has approved the repurchase of an additional $1 billion of the company's common stock over the next three years.

That brings the current total of authorized share buybacks to $2 billion, $1.45 billion or which remains outstanding.

DPS CEO Larry Young commented, "With a focus on organic growth, continued strong free cash flow generation and the expected license payment from The Coca-Cola Company, we remain committed to returning excess cash to our shareholders."

Dr Pepper Snapple shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of DPS have a dividend yield of 2.59%, based on last night's closing stock price of $38.58. The stock has technical support in the $33-$36 price area. The stock is currently trading just at all-time highs and has little overhead resistance. We are closely watching the shares for a potential return to our recommended list.

Dr Pepper Snapple Group Inc. ( DPS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: DPS

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