Key Highlights

  • Keurig Dr Pepper's $0.23 quarterly Dividend trades ex-date September 28, 2026, payable October 9, unchanged from recent quarters.
  • Second-quarter net sales were approximately $7.309 billion, including $2.8 billion from JDE Peet's, consolidated from April 1, 2026.
  • Net income attributable to common shareholders was $60 million after $82 million of preferred-investor allocations, producing diluted EPS of $0.04.
  • On September 1, KDP announced an enhanced Partnership with Chobani involving the sale of a minority Investment and a Pennsylvania Facility for $925 million of pre-tax proceeds intended to support deleveraging.

Overview

Keurig Dr Pepper Inc.'s (Nasdaq:KDP) $0.23 quarterly dividend yields approximately 2.98% and remained unchanged through a quarter substantially reshaped by the JDE Peet's acquisition, which contributed $2.8 billion of the quarter's $7.309 billion in net sales. Net Income attributable to KDP of $142 million was reduced to $60 million attributable to common shareholders after $82 million of preferred-investor allocations, producing diluted EPS of $0.04.

Dividend Program and Shareholder Returns

KDP's board declared a regular quarterly Cash Dividend of $0.23 per share on September 16, 2026, payable October 9 to shareholders of record September 28. The rate has remained $0.23 per share, equal to $0.92 annualized. The company also has a separate preferred-investor distribution mechanism following the JDE transaction and associated financing structure. During the second quarter, KDP declared and paid $54 million of preferred dividends, while $28 million of common dividends allocated to preferred investors were accrued but unpaid at June 30 and were to reduce the next preferred dividend.

About the Company

Keurig Dr Pepper is a global beverage company with more than 150 owned, licensed and partner brands, spanning a North American refreshment portfolio including Dr Pepper, Canada Dry and Snapple, alongside a global coffee Business including the Keurig single-serve system and brands such as Peet's, L'OR and Jacobs.

Financial Performance Behind the Payout

KDP's second-quarter net sales were approximately $7.309 billion, up 75.6% on a reported basis, comprising $2.925 billion from U.S. Refreshment Beverages, $918 million from U.S. Coffee (down 3.2%), $664 million from KDP International (up 19.6%) and $2.8 billion from JDE Peet's. GAAP net income was $210 million, with net income attributable to KDP of $142 million; after allocating $82 million to preferred investors, net income attributable to common shareholders was $60 million, producing diluted EPS of $0.04. U.S. Coffee Operating Income fell 36.1% to $149 million, while JDE Peet's adjusted operating income was $414 million, or 14.8% of net sales.

A Chobani Transaction Adds a Deleveraging Component Alongside Integration

On September 1, 2026, KDP announced an enhanced partnership with Chobani involving the sale of a minority investment and a Pennsylvania facility for $925 million of pre-tax proceeds, with proceeds intended to support deleveraging. U.S. Coffee sales fell 3.2%, with volume/mix down 8.2%, including an unfavorable impact from a reporting shift of Peet's K-Cup pods into the JDE Peet's segment, reflecting category softness and integration and separation costs. JDE Peet's, wholly incremental on a year-over-year basis since its April 1 close, delivered $2.8 billion of net sales and an adjusted Operating Margin of 14.8%. The Capital Structure created by the JDE transaction and associated preferred financing is a distinct Factor from operating performance, reducing net income attributable to common shareholders well below the KDP-attributable figure.

Outlook

KDP's dividend has remained $0.23 per share, and the company reaffirmed its 2026 constant-currency sales and adjusted-EPS outlook with second-quarter results. U.S. Coffee profitability trends following this quarter's integration and separation costs, deleveraging progress following the announced Chobani transaction, and continued JDE Peet's contribution relative to the 14.8% adjusted operating margin are the relevant considerations.