Press release from PR Newswire
KRAFT FOODS GROUP INCREASES QUARTERLY DIVIDEND
Tuesday, October 01, 2013
KRAFT FOODS GROUP INCREASES QUARTERLY DIVIDEND18:45 EDT Tuesday, October 01, 2013
NORTHFIELD, Ill., Oct. 1, 2013 /PRNewswire/ -- On its one-year anniversary as an independent company, Kraft Foods Group, Inc. (NASDAQ: KRFT) today announced that its Board of Directors approved a regular quarterly dividend of $0.525 per share of common stock, an increase of 5 percent versus the prior rate of $0.50 per share. This dividend is payable on Oct. 25, 2013 to shareholders of record as of Oct. 11, 2013.
"We are out to consistently prove Kraft is the best investment in our industry," says Kraft CEO Tony Vernon. "Today's dividend increase reflects our commitment to return cash to our shareholders and is consistent with our plans to consistently grow our dividend at a mid-single digit rate over time."
ABOUT KRAFT FOODS GROUPKraft Foods Group, Inc. (NASDAQ: KRFT) is one of North America's largest consumer packaged food and beverage companies, with annual revenues of more than $18 billion. With the spirit of a startup and the soul of a powerhouse, Kraft has an unrivaled portfolio of products in the beverages, cheese, refrigerated meals and grocery categories. Its iconic brands include Kraft, Maxwell House, Oscar Mayer, Philadelphia, Planters, Velveeta, Capri Sun, JELL-O and Lunchables. Kraft's 23,000 employees in the U.S. and Canada have a passion for making the foods and beverages people love. Kraft is a member of the Standard & Poor's 500 and the NASDAQ-100 indices. For more information, visit www.kraftfoodsgroup.com and www.facebook.com/kraft.
FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements. The word "plan" and similar expressions are intended to identify the forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the growth of Kraft's dividend and the return of cash to its shareholders. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are beyond Kraft's control. Important factors that could cause actual results to differ materially from those indicated in the forward-looking statements include, but are not limited to, increased competition; continued consumer weakness and weakness in economic conditions; Kraft's ability to differentiate its products from retailer and economy brands; Kraft's ability to maintain its reputation and brand image; continued volatility and increases in commodity and other input costs; pricing actions; increased costs of sales; regulatory or legal changes, restrictions or actions; unanticipated expenses and business disruptions; product recalls and product liability claims; unexpected safety or manufacturing issues; Kraft's indebtedness and its ability to pay its indebtedness; Kraft's inability to protect its intellectual property rights; tax law changes; Kraft's ability to achieve the benefits it expects to achieve from the spin-off and to do so in a timely and cost-effective manner; and its lack of operating history as an independent, publicly traded company. For additional information on these and other factors that could affect Kraft's forward-looking statements, see Kraft's risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 29, 2012. Kraft disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
SOURCE Kraft Foods Group
For further information: Basil Maglaris (media), 847-646-4538, email@example.com, or Christopher Jakubik, CFA (investors), 847-646-5494, firstname.lastname@example.org