Mondelez declares dividend, announces stock buyback

PRNewswire

Deerfield-based Mondelez International, the global snacks company spun off from Kraft Foods last year, declared a regular quarterly dividend of 13 cents per common share of Class A stock, payable on April 15 to stockholders of record as of April 1.

The  company’s board of directors also approved a buyback of up to 40 million shares stock for a value of $1.2 billion.  The primary purpose of the buyback will be to offset dilution from the company’s equity compensation plans, the company said in a release.

The program will end in three years, unless it is terminated or extended by the board.

Mondelez, which holds brands such as Oreo and Nabisco cookies, Cadbury chocolates, LU cookies and biscuits, Jacobs coffee and Tang orange drink, reported 2012 revenue of $35 billion.