On the surface, there are two good reasons for dividend-focused investors to prefer PepsiCo (NASDAQ: PEP) over Coca-Cola (NYSE: KO). While both stocks are Dividend Kings with over 50 years of annual dividend increases, PepsiCo offers a significantly higher dividend yield of 3.8% compared to Coca-Cola's 2.8%. PepsiCo has also been raising its payouts much faster than Coca-Cola in recent years, with its dividend rising by 39% since 2021, compared to 21% payout growth for Coca-Cola. But unfortunately for Pe ...