Coca-Cola Extends Dividend Growth and Outperforms Tech Giants
Coca-Cola (NYSE: KO) has extended its dividend growth streak to 64 consecutive years as of February 2023, maintaining its status among the Dividend Kings—companies with 50 or more years of annual dividend increases. This year, Coca-Cola’s stock has risen over 25%, significantly outperforming the 4.4% return of the “Magnificent Seven” tech stocks.
Coca-Cola raised its dividend by 4% this year, leading to a compressed yield of less than 2.5% due to the surge in share price. The company reported 7% revenue growth and 16% earnings-per-share growth in Q2 2023. Despite its historical underperformance compared to tech stocks, investors are increasingly shifting towards defensive sectors like Coca-Cola amid concerns over tech spending.
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