Coca-Cola is the largest beverage company in the world, and fans drink its popular products in 200 countries. Its namesake brand is one of the most recognized in the world, and people who love it are willing to pay a premium for it. That's called pricing power.

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. The new payout represents a yield of about 2.9% based on Wednesday's closing price of $70.07.

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