This week’s Shining Light Company is well known for making refreshing beverages, but also for being a company that advocates giving back to their community, their employees, and helping preserve the environment. Dr. Pepper Snapple Group (Ticker: DPS) is a leader in in the beverage industry that has many popular soft drink brands under its umbrella. DPS has a very rich heritage that dates to 1883 when Jean Jacob Schweppe created carbonated water, which was the foundation for the soft drink. Also Dr. Pepper, one of the flagship brands, has been around since 1885; which makes Dr. Pepper the oldest soft drink in the United States.
So, how Dr. Pepper get its name? Charles Alderton created the first soft drink and then handed the formula over to Wade Morrison, who then came up with the now famous name — Dr. Pepper. It is quite likely that Morrison named the soft drink after Dr. Charles T. Pepper of Rural Retreat, Virginia (later of Christiansburg, VA) in gratitude for having given Morrison his first job and his daughter’s hand in marriage. Dr. Pepper also has close ties to modern Southwestern Virginia as well. The Roanoke Valley is the official Dr. Pepper Capital of the World, as the company sells more Dr. Pepper beverages in the Roanoke Valley than any other metropolitan area east of the Mississippi River. That’s a lot of Dr. Pepper!
Taking great care of employees is a key attribute of a Shining Light Company. One of the ways that DPS does this is by offering robust benefits packages to their employees. These benefits include medical, dental, and vision plans along with short-term and long-term disability insurance and generous paid vacation. One of the more unique benefits offered isan adoption assistance plan. This DPS plan provides financial assistance and family leave for those who want to adopt children. For a complete list of benefits please see: http://www.drpeppersnapplegroup.com/careers/benefits/. Also, the culture is something that DPS creates makes working for them enjoyable. DPS is also very transparent with their employees about issues with their business and makes an effort to get everyone involved in decision-making and bettering the company. For a complete report on the culture at DPS, please see: http://www.drpeppersnapplegroup.com/values/call-to-action/.
DPS’s care for people further extends through their philanthropy and community involvement. DPS excels at giving money and time to various charities. By 2015, DPS has pledged to contribute 100,000 volunteer hours and give a total of $10 million in donations to worthy causes. In 2012, DPS gave $9.3 million to charities along with a $3 million cause-related marketing programs to benefit organizations like Muscular Dystrophy Association and Scholarship America. The philanthropic activities DPS focuses on are those dealing with being fit and active, environmental initiatives, emergency relief, and hometown giving. DPS is an active partner of Let’s Play, which is an organization that encourages children to get out, play, and be active. Since 2011, the company has invested $38 million in Let’s Play, improving the lives of more than 11 million kids across the U.S., as well as Canada and Mexico. They are also a partner with the Student Conservation Association which is a youth organization focused on preserving the environment. DPS also has a four year commitment to the American Red Cross and its Annual Disaster Giving Program which has helped families who have been affected by natural disasters. DPS also committed to a three-year, $1 million sponsorship of the Boys and Girls Club of America, helping provide mentoring and accountability for children in need. And finally, DPS has given the United Way $18 million since 2008, along with hundreds of hours of volunteer hours to help mentor kids. For a complete list of the philanthropic causes of DPS, please see: https://www.drpeppersnapplegroup.com/company/philanthropy.
Lastly, DPS is committed to having a significant positive impact on the environment. As of 2017 reports, DPS has removed 215 million pounds of CO2 from the atmosphere, which is the equivalent of almost 18,000 cars. DPS has also recycled 85 percent of its solid waste, as of records for 2016. DPS has set goals for 2025, intending to eliminate more than 50 million tons of greenhouse gas, divert more than 20 million cumulative tons of waste from landfills, create more than 20,000 jobs across the United States,and save nearly $1.2 billion for American cities. Accomplishing these goals will help the environment grow cleaner for the generations to come. DPS also have many other programs that reduce negative impacts on the environment. A complete report can be found at: http://www.dpsgsustainability.com/page/environmental-sustainability.
In short, Dr. Pepper Snapple Group has become a leader in corporate responsibility. The emphasis they place on taking care of their employees, their local communities and the environment is something that many other companies would do well to emulate. Thank you DPS for being a stellar example of care and giving and for being this week’s Shining Light Company!
DISCLOSURE: Shining Light Companies are exemplary companies who live out the Golden Rule in their business practices, demonstrate strong servant leadership and create compelling value through the products and services they offer. This is intended for general information purposes concerning only the values, corporate culture and business practices of the companies being spotlighted. It DOES NOT incorporate any analysis of the companies’ investment merit based on intrinsic value, fundamental analysis, etc. This must not be construed as investment advice or a buy/sell recommendation. These companies may or may not be included in our LightPoint Portfolios at any given time.