Pepsi buying back shares for $15B

PURCHASE, N.Y. — PepsiCo says it will buy back up to $15 billion shares of its common stock through June 2013.

The world’s second-biggest soft drink seller previously said today it expects to repurchase about $4.4 billion shares this year.

PepsiCo also says it’s boosting its annual dividend by 7 percent to $1.92, likely starting on June 30.

Last month PepsiCo Inc., based in Purchase, N.Y., cleared a final regulatory hurdle in its bid to buy its two biggest bottlers — Pepsi Bottling Group and PepsiAmericas — allowing it to close on its $7.8 billion deal.