ATLANTA - The Coca-Cola Company (NYSE: NYSE:KO), the global beverage giant, announced the election of Carlos Pagoaga as vice president and confirmed the upcoming quarterly dividend. Pagoaga, who began his duties on June 1, now oversees the company's Global Community Affairs and serves as President of The Coca-Cola Foundation.
In his new role, Pagoaga manages the Foundation's operations, including grant making, financial requirements, and compliance for both domestic and international philanthropy. With a history at Coca-Cola starting in 1990, his career has spanned various positions, including managing relationships with Latino organizations and officials in the United States and directing global recycling initiatives as the Foundation's Senior Director of circular economy.
Pagoaga's educational background includes a bachelor's degree in marketing and an MBA from Georgia State University. His election is part of Coca-Cola's ongoing commitment to leadership in global community engagement and corporate responsibility.
Additionally, Coca-Cola declared a regular quarterly dividend of 48.5 cents per common share. This dividend is payable on October 1 to shareholders of record as of September 13.
The Coca-Cola Company, known for its flagship products like Coca-Cola, Sprite, and Fanta, operates in over 200 countries and territories. The company's portfolio also includes water, sports, coffee, and tea brands such as Dasani, smartwater, and Costa, as well as juice, dairy, and plant-based beverages like Minute Maid and Simply.
The company, in partnership with its bottling associates, employs over 700,000 people worldwide, contributing to economic opportunities in the communities it serves.
InvestingPro Insights
As The Coca-Cola Company (NYSE: KO) reinforces its commitment to corporate responsibility and global community engagement with the appointment of Carlos Pagoaga, it's worth noting the company's strong financial performance and market position. According to InvestingPro data, Coca-Cola boasts a substantial market capitalization of 288.92 billion USD, reflecting its status as a leading player in the beverages industry. Moreover, the company maintains impressive gross profit margins, with the last twelve months as of Q2 2024 showing a margin of 60.53%. This financial robustness is complemented by Coca-Cola's longstanding tradition of rewarding shareholders, as evidenced by the confirmed upcoming quarterly dividend and a history of raising its dividend for 54 consecutive years, an InvestingPro Tip that highlights the company’s dedication to consistent shareholder returns.
Investors should also consider the company's valuation metrics. The P/E ratio as of Q2 2024 stands at 23.12, which, while high, may be justified by the company's significant gross profit margins and its role as a prominent player in its industry. Another InvestingPro Tip points out that Coca-Cola generally trades with low price volatility, which could be an attractive characteristic for investors seeking stability in their portfolio.
For those interested in deeper analysis and additional insights, InvestingPro offers more tips on The Coca-Cola Company, which can be accessed at https://www.investing.com/pro/KO. Readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to a wealth of financial data and expert analysis to make informed investment decisions.
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