DPS to repurchase common stock, release collectible cans
July 13, 2010
The board of directors for Dr Pepper Snapple Group (DPS), Plano, Texas,
authorized the repurchase of shares of common stock totaling $1 billion during
the next three years. The company has authorized a total of $2 billion in share
repurchases, and $1.45 billion remains outstanding, DPS said.
“With a focus on organic growth, continued strong free cash
flow generation and the expected license payment from The Coca-Cola Co., we remain committed to returning excess cash to our
shareholders,” said Larry Young, DPS president and chief executive officer, in
The company also released Dr Pepper made with real sugar in
six collectible cans to celebrate the brand’s history during its 125th
anniversary celebration. The cans will be available through early September and
feature legacy artwork and popular advertising slogans, such as “I’m a Pepper.”
Dr Pepper 12-pack cases will highlight key moments in the
brand’s history, such as its 1885 origin at Morrison’s Old Corner Drug Store in
and its introduction at the 1904 World’s Fair, the company added.