Core Viewpoint - Coca-Cola Consolidated, Inc. has declared a third-quarter dividend of $0.50 per share for 2024, payable on August 9, 2024, to shareholders of record as of July 26, 2024 [1] Company Overview - Coca-Cola Consolidated is the largest Coca-Cola bottler in the United States, committed to serving consumers, customers, and communities for over 122 years [2] - The company offers a broad portfolio of beverages and services, distributing over 300 brands and flavors across 14 states and the District of Columbia to approximately 60 million consumers [2] - The company is headquartered in Charlotte, N.C., and is traded on The Nasdaq Global Select Market under the symbol "COKE" [3]

CHARLOTTE, N.C., July 12, 2024 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ: COKE) announced that the Board of Directors has declared a dividend for the third quarter of 2024 of $0.50 per share on shares of the Company's Common Stock and Class B Common Stock payable on August 9, 2024 to shareholders of record as of the close of business on July 26, 2024. CONTACTS: Ashley Brown (Media) Scott Anthony (Investors) Director, External Communications Executive Vice President & Chief Financial Officer ( ...

Core Viewpoint - Coca-Cola Consolidated, Inc. has successfully completed a modified "Dutch auction" tender offer, purchasing a total of 14,391.5 shares of its Common Stock at a price of $925 per share, amounting to approximately $13.3 million [7][8]. Group 1: Tender Offer Details - The tender offer expired on June 18, 2024, at 5:00 p.m. New York City time [7]. - The company accepted all validly tendered shares, which represent about 0.2% of the outstanding shares as of the expiration date [8]. - Following the tender offer, the company plans to repurchase an additional 598,619 shares from Carolina Coca-Cola Bottling Investments, Inc. for approximately $553.7 million, which will result in CCCBI owning 21.5% of the company's outstanding shares [2]. Group 2: Future Share Repurchase Plans - The company may consider purchasing additional shares in the open market or through private transactions after July 5, 2024, depending on market conditions and other factors [9]. - The decision to repurchase shares in the future will be influenced by the market price of shares, the company's financial condition, and general economic conditions [9]. Group 3: Company Overview - Coca-Cola Consolidated is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia [5]. - The company has been committed to its purpose of honoring God, serving others, pursuing excellence, and growing profitably for over 122 years [5].

Core Viewpoint - The Company has successfully completed a modified "Dutch auction" tender offer, purchasing a total of 14,391.5 shares of its Common Stock at a price of $925 per share, amounting to approximately $13.3 million [5][10]. Group 1: Tender Offer Details - The Company accepted all validly tendered shares in the tender offer, which represent about 0.2% of the total issued and outstanding shares as of June 18, 2024 [1][10]. - Following the tender offer, the Company plans to purchase additional shares from Carolina Coca-Cola Bottling Investments, Inc. (CCCBI) to ensure CCCBI owns 21.5% of the Company's outstanding shares post-repurchase, with an expected purchase of 598,619 shares for approximately $553.7 million [2]. Group 2: Future Share Repurchase Plans - The closing of the Share Repurchase from CCCBI is anticipated to occur on July 5, 2024, contingent upon the satisfaction or waiver of closing conditions [2]. - The Company may consider additional share repurchases in the future, depending on market conditions and other financial factors, but is restricted from repurchasing shares until July 5, 2024 [11]. Group 3: Company Overview - Coca-Cola Consolidated, Inc. is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia with a diverse portfolio of beverages [8].

Core Viewpoint - Coca-Cola Consolidated has experienced significant stock performance over the past decade, with shares increasing by over 1,100%, outperforming the S&P 500's 184% return [1] Group 1: Historical Performance - The substantial gains for Coca-Cola Consolidated were largely due to a special situation involving acquisitions of distribution regions and manufacturing facilities from 2013 to 2017, which drove top-line growth [2] - The company's diluted earnings per share (EPS) have increased by more than 1,500% over the last 10 years, although this level of growth is atypical for a low-growth, low-margin business [3][4] Group 2: Current Financial Strategy - In 2023, Coca-Cola Consolidated's net sales increased by only 7% year over year, and its diluted EPS saw a modest decline, indicating that organic growth may be challenging in the future [4] - The company announced a stock buyback plan worth $3.1 billion, intending to repurchase approximately one-third of its shares, which is significant given its market capitalization of nearly $9 billion [5][6] Group 3: Shareholder Impact - The stock buyback plan is expected to benefit shareholders by increasing EPS, as fewer shares outstanding can lead to a higher stock price [6][7] - The company plans to optimize its balance sheet by raising a prudent amount of debt to fund the buyback, indicating a strong financial position [8] Group 4: Long-term Considerations - While using debt for share repurchases has been successful for other companies, there are concerns about the long-term implications for Coca-Cola Consolidated's balance sheet, especially after recently achieving a cash position greater than debt for the first time in 40 years [9][10] - The company possesses competitive advantages through its distribution rights for popular beverages, but finding growth may be difficult, raising questions about the stock's valuation at nearly 20 times earnings for a low-growth opportunity [11][12]

Core Points - Coca-Cola Consolidated, Inc. has initiated a modified "Dutch auction" tender offer to repurchase shares of its Common Stock for a total purchase price of up to $2.0 billion [1][2] Tender Offer Details - Stockholders can tender shares at a price between $850 and $925 per share or without specifying a price, with the final purchase price determined by the company [2] - The tender offer will expire at 5:00 p.m. New York City time on June 18, 2024, unless extended or terminated [4] - The tender offer is not conditioned on a minimum number of shares being tendered but is subject to a Financing Condition requiring at least $2.5 billion in gross proceeds from new term loan facilities or senior unsecured notes [4] Funding Mechanism - The company plans to fund the tender offer through a combination of cash on hand, borrowings under a revolving credit facility, new term loan facilities, and/or proceeds from an offering of senior unsecured notes [3] Company Background - Coca-Cola Consolidated is the largest Coca-Cola bottler in the United States, serving approximately 60 million consumers across 14 states and the District of Columbia [9][10]

CHARLOTTE, N.C., May 20, 2024 (GLOBE NEWSWIRE) -- Coca-Cola Consolidated, Inc. (NASDAQ: COKE) (the "Company") announced today that it has commenced a modified "Dutch auction" tender offer to purchase shares of its Common Stock for an aggregate purchase price of up to $2.0 billion. Pursuant to the tender offer, stockholders may tender all or a portion of their shares (1) at a price specified by the tendering stockholder of not less than $850 and not more than $925 per share or (2) without specifying a purcha ...

Here's Why Coca-Cola Consolidated Will Likely Announce a Stock Split in 2024 Sundry Photography / iStock Editorial via Getty Images There are a number of consumer products that are emblematic of US culture that have become universally recognized and regarded around the globe: Harley Davidson motorcycles, Marlboro cigarettes, Levi denim jeans, McDonald hamburgers, and Coca-Cola soft drinks.In addition to its iconic Coca-Cola beverage, The Coca-Cola Company (NYSE: KO) has drastically expanded its menu of se ...

Management announced a bold new stock buyback plan.Shareholders of Coca-Cola Consolidated (COKE -0.56%), the largest Coca-Cola (KO 0.67%) bottler in the country, had a great week this week. The stock gained 11% through Thursday trading compared to a 1.2% rally in the wider market, according to data provided by S&P Global Market Intelligence. That boost was just enough to put shares back in positive territory for the year, although the stock is still trailing the S&P 500's 9% increase to date in 2024.This we ...

You won't believe the amount of money that the bottler intends to return to shareholders.Shares of Coca-Cola Consolidated (COKE 16.18%) -- the largest bottler of products from The Coca-Cola Company as well as a bottler of other beverages -- skyrocketed over $1,000 this morning after the company reported financial results for the first quarter of 2024 and announced a massive plan to repurchase shares. As of 10:20 a.m. ET on Monday, Coca-Cola Consolidated stock was up almost 16%.A massive share repurchase pla ...