The board of directors of The Quaker Oats Company (NYSE: OAT) yesterday declared a dividend. Quaker's current dividend period, which commenced March 22, 2001, would customarily end on a record date of June 15, 2001, with a July 13, 2001 payable date. If Quaker's proposed merger with PepsiCo, Inc. (NYSE: PEP) is not completed on or before June 15, 2001, Quaker will pay a quarterly dividend of 28-1/2 cents per share on Quaker's outstanding common stock, payable July 13, 2001 to shareholders of record on June 15, 2001.