Company announced an annual dividend increase, raising its quarterly dividend 5% from 48.5c to 51c per common share. The

Coca-Cola raised the company's quarterly dividend by 5.2% to 51 cents a share from 48.5 cents a share. The increase approved by the board of directors is equal to $2.04 on an annualized basis, the company said Thursday.

Coca-Cola has a well-loved brand that leads to strong pricing power and higher sales. The company has a well-established formula and is adept at turning sales into profits. Coca-Cola is a Dividend King.