Pepsi earnings gets a boost from FritoLay, cost-cuts

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Pepsi reported a 5 percent ump in quarterly profit, helped by strong sales of Frito-Lay chips in the Americas and cost-cutting measures.

The maker of Pepsi-Cola, Quaker Oats and Tropicana juice said net income attributable to PepsiCo rose to $1.75 billion, or $1.12 per share, in the fourth quarter ended Dec. 28, from $1.66 billion, or $1.06 per share, a year earlier.

Excluding items, earnings were $1.05 per share. Revenue rose marginally to $20.11 billion.

The company also said it would raise its annual dividend by 15 percent to $2.62 per share.

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