Most Investors Overlook This. I'm Buying PepsiCo for Its Dividend.

PepsiCo's stock has declined from $171 to $142 due to weak North American performance and flat earnings growth. However, the author sees a buying opportunity at current valuations, citing the company's 54-year dividend growth streak, 4.1% forward yield, improving international business (now 40%+ of sales), and reasonable 18.6x forward P/E ratio. While North America remains challenged, international margins are expanding, suggesting a potential turnaround.