Dr Pepper Snapple Group announces quarterly dividend

PLANO, Texas Dr Pepper Snapple Group announced that its board of directors has approved its first-ever dividend. The board declared the 15 cents per share quarterly dividend on the company's common stock payable on Jan. 8, 2010, to shareholders of record on Dec. 21, 2009. The ex-dividend date is Dec. 17, 2009.

The board also authorized the repurchase of up to $200 million of the company's outstanding common stock over the next three years.

"As we approach our target capital structure, we believe the time is right to initiate a cash return program to our shareholders," said Larry Young, DPS president and CEO. "[Today's] actions reflect our confidence in our continuing ability to generate strong cash flow and our intent to deploy it in shareholder-friendly ways."