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.
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