
Sixty-three years of consecutively raised dividends. The very phrase is enough to induce a mild nausea. It suggests a relentless, almost pathological, commitment to… well, to selling sugary water. The current yield of 2.6% is, of course, irrelevant. It merely reflects the market’s temporary enthusiasm for a product that is, let’s be honest, contributing to the decline of Western civilization. The fact that the company owns thirty-two billion-dollar brands is less a testament to its ingenuity than to its aggressive acquisition of anything that might distract from the fundamental emptiness of its core offering. One notes, with a certain grim satisfaction, that the localized production model has shielded it from the worst of the tariff nonsense. A triumph of pragmatism, not principle.