A three piece sealed dispensing and storage cap that is inserted onto the neck of a liquid bearing container threaded neck of a bottle, said device being a storage chamber for sealably containing a liquid and/or dry material and a dispenser for releasing the material when desired into the primary container. The dispensing cap may include a desiccant to prevent moisture from reaching the storage chamber. The bottom seal that is frangible and ruptured to activate the device may include a line of weakening. The button top is depressed manually forcing an actuator against the bottom of the cap body seal to rip away the bottom seal dispensing the material. The present invention allows the use of materials that would discolor, degrade or interact with other substances when added to the contents of the bottle, to remain stable and/or inactive until the time of use.