The present invention is a post-mix beverage dispensing valve for accurately maintainig the proper ratio of two liquid beverage components. The present invention includes a valve main body (12) having a gear pump (60) secured thereto. The gear pump includes two sets of oval gears (94, 102). One set of oval gears (94) is in fluid communication with a source of pressurized carbonated water, and the second set (102) is in fluid communication with a source of syrup. The valve body also includes solenoid operated pallet valves (22, 34) for each of the beverage components. One gear of each gear pair is secured to a common rotating shaft. Operation of the solenoid provides for simultaneous opening of both pallet valves whereby the pressurized carbonated water provides for the driving of both gear pairs. The desired ratio between the beverage components is maintained at a constant ratio as a function of the size of the gear pairs relative to each other.