Purchase, N.Y.-based PepsiCo Inc. reported the results for its fourth quarter and full year 2016.

“We concluded 2016 with another strong quarter of operating performance, capping off a successful year. We met or exceeded every financial goal we set for 2016, while delivering a good balance between revenue performance and productivity,” Chairman and Chief Executive Officer Indra Nooyi said in a statement. “Looking ahead to 2017, we expect solid financial performance despite anticipated continued macroeconomic challenges. Further, reflecting our commitment to providing attractive cash returns to shareholders, we are increasing our dividend per share for the 45^th consecutive year, beginning with our June 2017 payment.”

Reported fourth quarter results were impacted by an additional reporting week as well as investments and redemption of certain senior notes, the company says. Reported net revenue increased 5 percent, and foreign exchange translation had a 2-percentage-point unfavorable impact on reported net review. Additionally, the 53^rd reporting week had a 3.5-percentage-point favorable impact. Organic revenue grew 3.7 percent, it adds.

In the fourth quarter, PepsiCo’s North America Beverage (NAB) division was positively impacted by productivity gains and lower raw material costs, partially offset by operating cost inflation, the company says. The pension-related settlement benefit in the prior year had a 5-percentage-point unfavorable impact on reported operating profit growth. Additionally, the 53^rd reporting week contributed 7 percentage points to reported operating profit growth, partially offset by incremental investments, which reduced reported operating profit growth by 3 percentage points, it adds.

For the full year 2016, PepsiCo Inc. reported that the results were impacted by the 53^rd reporting week as well as a debt redemption charge and an impairment charge to reduce holding value of its 5 percent indirect equity interest in Tingyi-Asahi Beverages Holding Co. Ltd. to its estimated fair value, the company says.

Company-wide net revenue declined 0.4 percent for the full year 2016, it reports. Foreign exchange translation had a 3-percentage-point unfavorable impact and the Venezuela deconsolidation had a 2-percentage-point unfavorable impact on the reported net revenue change, it adds. Organic revenue grew 3.7 percent for the year.

Reported operating profit increased 17 percent and core constant currency operating profit increased 7 percent, the company says. The 2015 Venezuela impairment charges had a 17-percentage-point favorable impact on reported operating profit growth, and the Venezuela deconsolidation had a 2-percentage-point unfavorable impact on reported operating profit growth. The commodity mark-to-market net impact favorably impacted reported operating profit by 2 percent. The net impact of charges related to the transaction with Tingyi and the pension-related settlements each had a 4-percentage-point unfavorable impact on reported operating profit growth, it adds. Additionally, the 53^rd reporting week positively contributed 1 percentage point to reported operating profit growth, more than fully offset by incremental investments, which reduced reported operating profit growth by 2 percentage points, it says.

For full year 2016, PepsiCo NAB was positively impacted by productivity gains and lower raw material costs, partially offset by operating cost inflation and higher advertising and marketing expenses, the company says. Pension-related benefits in the prior year reduced reported operating profit by 2.5 percentage points, it says. The 53^rd reporting week contributed 1.5 percentage points to reported operating profit growth, partially offset by incremental investments, which reduced reported operating profit growth by 1 percentage point, it adds.

For 2017, the company expects organic revenue growth of at least 3 percent, it says. Based on current market consensus rates, foreign exchange translation is expected to negatively impact reported net revenue growth by approximately 3 percentage points, and the 53^rd week in 2016 is expected to negatively impact reported net revenue growth for full year 2017 by 1 percentage point, it adds.