The Coca-Cola Co. is raising its quarterly dividend 10 percent to 28 cents.

Coca-Cola says it is the company's 51st straight annual dividend increase.

The world's largest beverage maker said last week that its profit rose in the fourth quarter, as it benefited from growth in emerging markets

Coca-Cola's dividend is payable April 1 to shareholders of record as of March 15. The increase means Coca-Cola's annual dividend increases 10 cents to $1.12.

The Atlanta-based company's shares slipped 3 cents to $37.70 in midday trading.