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(Reuters) - PepsiCo Inc’s ( PEP.O ) sales topped Wall Street forecasts in the fourth quarter, as higher demand at its snacks business that makes Doritos and Cheetos made up for a decline in sales of sugary drinks. PepsiCo on Tuesday also announced a stock buyback of up to $15 billion and a 15 percent increase in its dividend payout. The maker of Tropicana juices and Mountain Dew said organic sales at its Frito-Lay division rose 5 percent in the quarter ended Dec. 30, buoyed by demand for salty snacks including Cheetos and Lay‘s. Organic sales exclude the impact of currency, acquisitions and divestitures. Organic sales at PepsiCo’s North American beverages business that includes Mountain... Full story

13 February