PepsiCo, Inc.

PEP53 yrs growth

Consumer Defensive · Beverages - Non-Alcoholic · Stock · quarterly payer

$131.49

Fairly valued · -12% Add to Portfolio

Forward Yield

4.50%

Annual Dividend

$5.92

Payout Ratio

73%

5-Yr Growth

6.9%

Ex-Date

Sep 4, 2026

Frequency

Quarterly

Key facts about PEP's dividend

Data as of Oct 19, 2026 · Source: SmarterDividends data

As of Oct 19, 2026, PepsiCo, Inc. (PEP) has a forward dividend yield of 4.50%, based on an annual dividend of $5.92 per share and a share price of $131.49.
As of Oct 19, 2026, PEP's dividend safety grade from SmarterDividends is A (84 out of 100), which rates the dividend as very safe.
By SmarterDividends' count, PepsiCo, Inc. (PEP) has raised its dividend for 53 consecutive years as of Oct 19, 2026, which makes it a Dividend King. The company's own count can be longer, because SmarterDividends' payment records for most companies begin around 1970.
PEP has never cut its regular dividend in the payment history SmarterDividends has on record.
PEP's most recent ex-dividend date was Sep 4, 2026, for a dividend of $1.48 per share.
As of Oct 19, 2026, PEP pays out 73% of its trailing 12-month earnings as dividends (its payout ratio).
PEP's dividend has grown at an average rate of 6.9% a year over the past five years.
As of Oct 19, 2026, PEP's 4.50% yield is 47% above its five-year average yield of 3.07%.
As of Oct 19, 2026, SmarterDividends' blended fair-value estimate for PEP is $115.89 per share, 12% below the $131.49 share price, so PEP screens as fairly valued.
PepsiCo, Inc. (PEP) pays its dividend quarterly, 4 times a year.
PepsiCo, Inc. (PEP) has raised its regular dividend 55 times and cut it 0 times across the 219 payments on record since 1972. Its most recent change was a 4.0% increase to $1.48 per share, going ex-dividend on Jun 5, 2026.
PepsiCo (PEP) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.0%, was declared on May 6, 2026.

Cite this page

SmarterDividends, "PEP Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 19, 2026, https://smarterdividends.com/stocks/PEP

Summary

As of Oct 19, 2026, PepsiCo, Inc. (PEP) yields 4.50% ($5.92 a year per share), has a dividend safety grade of A (84/100) and has 53 consecutive years of dividend increases on record.

Is PEP a good dividend stock?

Yes

PepsiCo, Inc. (PEP) pays a quarterly dividend yielding 4.50% ($5.92/yr), with 53 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Advantages

Dividend King — 53 straight years of increases
Never cut its dividend on record
Strong 6.9% 5-yr dividend growth
Top-tier dividend safety score

Risks

Share price is down over the past 5 years

Key Data

Dividend Yield: 4.50%
Payout Ratio: 73%
Annual Dividend: $5.92
5-Yr Avg Growth: 6.9%
Ex-Dividend Date: Sep 4, 2026
Years of Growth: 53
Frequency: quarterly
Beta: 0.36
Market Cap: $179.2B
P/E Ratio: 16.5
5-Yr Total Return: -18%
52-Week Range: $123.47 – $171.48
Dividend Safety: A · 84/100
Ever Cut?: No

PEP dividend raises and cuts

PepsiCo, Inc. (PEP) has raised its regular dividend 55 times and cut it 0 times across the 219 payments on record since 1972. Its most recent change was a 4.0% increase to $1.48 per share, going ex-dividend on Jun 5, 2026.

Ex-date	Change	Old → new	Move
Jun 5, 2026	Raise	$1.42 → $1.48	+4.0%
Jun 6, 2025	Raise	$1.36 → $1.42	+5.0%
Jun 7, 2024	Raise	$1.27 → $1.36	+7.1%
Jun 1, 2023	Raise	$1.15 → $1.27	+10.0%
Jun 2, 2022	Raise	$1.08 → $1.15	+7.0%
Jun 3, 2021	Raise	$1.02 → $1.08	+5.1%
Jun 4, 2020	Raise	$0.955 → $1.02	+7.1%
Jun 6, 2019	Raise	$0.928 → $0.955	+2.9%
May 31, 2018	Raise	$0.805 → $0.928	+15.3%
May 31, 2017	Raise	$0.753 → $0.805	+6.9%
Jun 1, 2016	Raise	$0.703 → $0.753	+7.1%
Jun 3, 2015	Raise	$0.655 → $0.703	+7.3%

Show all 55 changes since 1973

Ex-date	Change	Old → new	Move
Jun 4, 2014	Raise	$0.568 → $0.655	+15.3%
Jun 5, 2013	Raise	$0.537 → $0.568	+5.8%
May 30, 2012	Raise	$0.515 → $0.538	+4.5%
Jun 1, 2011	Raise	$0.480 → $0.515	+7.3%
Jun 2, 2010	Raise	$0.450 → $0.480	+6.7%
Jun 3, 2009	Raise	$0.425 → $0.450	+5.9%
Jun 4, 2008	Raise	$0.375 → $0.425	+13.3%
Jun 6, 2007	Raise	$0.300 → $0.375	+25.0%
Jun 7, 2006	Raise	$0.260 → $0.300	+15.4%
Jun 8, 2005	Raise	$0.230 → $0.260	+13.0%
Jun 9, 2004	Raise	$0.160 → $0.230	+43.8%
Jun 11, 2003	Raise	$0.150 → $0.160	+6.7%
Jun 5, 2002	Raise	$0.145 → $0.150	+3.4%
Jun 6, 2001	Raise	$0.140 → $0.145	+3.6%
Jun 7, 2000	Raise	$0.135 → $0.140	+3.7%
Jun 9, 1999	Raise	$0.130 → $0.135	+3.8%
Jun 10, 1998	Raise	$0.125 → $0.130	+4.0%
Jun 11, 1997	Raise	$0.115 → $0.125	+8.7%
Jun 5, 1996	Raise	$0.100 → $0.115	+15.0%
Jun 6, 1995	Raise	$0.0900 → $0.100	+11.1%
Jun 6, 1994	Raise	$0.0800 → $0.0900	+12.5%
Jun 7, 1993	Raise	$0.0650 → $0.0800	+23.1%
Jun 8, 1992	Raise	$0.0600 → $0.0650	+8.3%
Jun 10, 1991	Raise	$0.0500 → $0.0600	+20.0%
Jun 4, 1990	Raise	$0.0417 → $0.0500	+20.0%
Jun 5, 1989	Raise	$0.0350 → $0.0417	+19.0%
Jun 6, 1988	Raise	$0.0283 → $0.0350	+23.5%
Jun 8, 1987	Raise	$0.0267 → $0.0283	+6.2%
Jun 9, 1986	Raise	$0.0247 → $0.0267	+7.9%
Jun 10, 1985	Raise	$0.0233 → $0.0247	+6.0%
Jun 4, 1984	Raise	$0.0225 → $0.0233	+3.7%
Jun 7, 1982	Raise	$0.0203 → $0.0225	+11.0%
Jun 8, 1981	Raise	$0.0181 → $0.0203	+12.3%
Jun 9, 1980	Raise	$0.0158 → $0.0181	+14.0%
Jun 4, 1979	Raise	$0.0139 → $0.0158	+14.0%
Jun 5, 1978	Raise	$0.0125 → $0.0139	+11.1%
Dec 5, 1977	Raise	$0.0111 → $0.0125	+12.5%
Mar 4, 1977	Raise	$0.0093 → $0.0111	+20.0%
Jun 3, 1976	Raise	$0.0074 → $0.0093	+25.0%
Sep 3, 1975	Raise	$0.0065 → $0.0074	+14.3%
Sep 3, 1974	Raise	$0.0056 → $0.0065	+16.6%
Aug 31, 1973	Raise	$0.0050 → $0.0056	+11.1%
Mar 5, 1973	Raise	$0.0046 → $0.0050	+8.0%

Every PEP payment →Download every raise and cut (CSV)

PEP ex-dividend date & scheduleNext ex-date Sep 4, 2026 · full ex-dividend historyView →PEP dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is PEP a good dividend stock?

Yes. PepsiCo, Inc. (PEP) pays a quarterly dividend yielding 4.50% ($5.92/yr), with 53 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Is PEP undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PEP's fair value is about $115.89 versus a $131.49 share price — so it looks fairly valued (-12% vs. fair value).

Is PEP's dividend safe?

PEP has a dividend-safety grade of A (84/100), based on its payout coverage, free-cash-flow, 53-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is PEP's fair value?

Our blended fair-value estimate for PEP is about $115.89 per share, about 12% below the current $131.49 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is PEP a buy, hold, or sell?

We don't issue formal ratings, but on the data PEP screens as "yes" and fairly valued. PepsiCo, Inc. (PEP) pays a quarterly dividend yielding 4.50% ($5.92/yr), with 53 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.

Will PEP cut its dividend?

PEP earns a dividend-safety grade of A (84/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does PEP pay a dividend?

Yes. PepsiCo, Inc. pays a quarterly dividend of about $5.92 per share annually, a forward yield of roughly 4.50%.

What is PEP's dividend yield?

As of Oct 19, 2026, PEP's forward dividend yield is 4.50%, based on a $5.92 annual dividend and a $131.49 share price.

What is PEP's dividend per share?

As of Oct 19, 2026, PEP pays $5.92 per share per year, distributed on a quarterly basis.

What is PEP's dividend payout ratio?

As of Oct 19, 2026, PEP's payout ratio is 73% of trailing 12-month earnings — a moderate level that's generally sustainable.

How many years has PEP grown its dividend?

As of Oct 19, 2026, PEP has increased its dividend for 53 consecutive years.

When is the next PEP ex-dividend date?

As of Oct 19, 2026, PEP's next ex-dividend date hasn't been announced. The most recent was Sep 4, 2026, for $1.48 per share.

Dividend Growth

Total dividends per share by year

Dividend History

Full PEP dividend history →

Ex-Date	Pay Date	Amount	Type
Sep 4, 2026	Sep 30, 2026	$1.4800	regular
Jun 5, 2026	Jun 30, 2026	$1.4800	regular
Mar 6, 2026	Mar 31, 2026	$1.4230	regular
Dec 5, 2025	Jan 6, 2026	$1.4230	regular
Sep 5, 2025	Sep 30, 2025	$1.4230	regular
Jun 6, 2025	Jun 30, 2025	$1.4230	regular
Mar 7, 2025	Mar 31, 2025	$1.3550	regular
Dec 6, 2024	Jan 6, 2025	$1.3550	regular
Sep 6, 2024	Sep 30, 2024	$1.3550	regular
Jun 7, 2024	Jun 28, 2024	$1.3550	regular
Feb 29, 2024	Apr 1, 2024	$1.2650	regular
Nov 30, 2023	Jan 5, 2024	$1.2650	regular
Aug 31, 2023	Sep 29, 2023	$1.2650	regular
Jun 1, 2023	Jun 30, 2023	$1.2650	regular