Coca-Cola Europacific Partners (CCEP) has increased its dividend payout after a successful summer of major sporting events, despite less-than-ideal weather conditions and softer consumer demand.
The London-listed company, which is the largest Coca-Cola bottling firm, announced a full-year dividend per share of €1.97, representing a 7.1% year-on-year increase, as reported by .
This comes as the company's year-to-date revenue rose 10.2% to €15.2bn (£12.8bn).
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However, CCEP has revised its full-year revenue guidance downwards, from 4% to 3.5%.
Operating profit is expected to remain in line with previous guidance, with comparable growth of 7%.
A 'solid year' for Coca-Cola bottler
Chief executive Damian Gammell commented: "2024 continues to be a solid year for CCEP."
"We've grown volume and revenue year on year and share ahead of the market. Our geographic diversification means we are more robust with APS, led by the Philippines, offsetting softer volumes in Europe."
Gammell noted that "mixed summer weather" and "softer consumer demand" in Europe had been offset by "fantastic activation" at the Euros and the Olympics, ultimately supporting volume growth.
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"We are well placed for 2025 and beyond. We continue to invest for the long-term and are confident that we have the right strategy, done sustainably, to deliver on our mid-term growth objective," he added.
"Combined with today's dividend declaration, this demonstrates the strength of our business and our ability to grow shareholder returns."
Following the announcement, shares remained relatively stable, with a slight increase of 0.34 per cent in early trading.
So far this year, they have seen an approximate rise of 14 per cent. In February, CCEP purchased its peer in the Philippines, Aboitiz Equity Ventures, from The Coca-Cola Company, in a transaction valued at £1.4bn.