Yesterday, Coca-Cola (KO) announced a 9.7% increase in the company's 1st quarter 2007 dividend to 34 cents per share versus 31 cents per share in the same quarter last year. This represents the 45th consecutive annual increase in the company's dividend. The projected payout ratio on 2007 estimated earnings of $2.56 is 53%. The compares to the 5-year historical average payout ratio of 49%.
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