Dr Pepper Unveils $1bn Share Buyback Plan

The board of Dr Pepper Snapple Group has authorised the repurchase of $1bn in shares over the next three years to return cash to shareholders.

The US company now has $1.45bn in share repurchases outstanding out of $2bn in authorisations.

The company had 245.7 million shares outstanding as of 3 May, regulatory filings showed.

It said the company’s free cash flow and a $715m distribution payment from Coca-Cola allowed it to increase share repurchases.

Last month, Coca-Cola agreed to sell its brands, including Dr Pepper and Canada Drys in some regions of the US and Canada for 20 years.