Mondelez Declares Dividend, Authorizes Share Buybacks
Mar 13th 2013 11:14PM
Updated Mar 13th 2013 11:22PM
Mondelez International's first quarterly dividend for 2013 will match its previous payout, and the snacks and sweets giant has also OK'd a share-buyback program. The company will hand out $0.13 per share of its common Class A stock on April 15 to shareholders of record as of April 1. The company paid its previous disbursement last December.
The just-declared dividend annualizes to $0.52 per share, which yields 1.8% at Mondelez's current stock price of $28.47.
The main objective of the share-buyback program is to offset dilution from its equity compensation plans. The authorization covers the buyback of up to 40 million shares or $1.2 billion worth of common Class A stock, whichever is the lesser amount.
The article Mondelez Declares Dividend, Authorizes Share Buybacks originally appeared on Fool.com.Fool contributor Eric Volkman and The Motley Fool have no position in Mondelez International. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.