Kraft Foods Increases Regular Quarterly Dividend to $0.27 Per Share Tuesday August 28, 11:02 am ET
NORTHFIELD, Ill.--(BUSINESS WIRE)--The Board of Directors of Kraft Foods Inc. (NYSE:KFT - News) has declared a regular quarterly dividend of $0.27 per common share of Class A stock, an 8% increase from the previous quarter's dividend. This dividend is payable on October 5, 2007 to stockholders of record as of September 10, 2007.
"We're increasing our dividend consistent with our long-term earnings guidance and executing our previously announced share repurchase program, while also investing in the future of our business," said Irene Rosenfeld, Kraft Chairman and CEO. "These actions reflect our confidence that we're making good progress in returning Kraft to reliable growth."
Kraft Foods (NYSE: KFT - News) is one of the world's largest food and beverage companies, with annual revenues of more than $34 billion. For over 100 years, Kraft has offered consumers delicious and wholesome foods that fit the way they live. Kraft markets a broad portfolio of iconic brands in 155 countries, including seven brands with revenue of more than $1 billion, such as Kraft cheeses, dinners and dressings; Oscar Mayer meats; Philadelphia cream cheese; Post cereals; Nabisco cookies and crackers; Jacobs coffees and Milka chocolates. Kraft became a fully independent company on March 30, 2007, and is listed in the Standard & Poor's 100 and 500 indexes. The company is a member of the Dow Jones Sustainability Index and the Ethibel Sustainability Index. For more information, visit the company's website at http://www.kraft.com.
Forward-Looking Statements
This press release contains a forward-looking statement that we are making good progress to returning Kraft to reliable growth. This forward-looking statement involves risks and uncertainties that could cause actual results to differ materially from those predicted in the forward-looking statement. Such factors include, but are not limited to, our ability to realize the expected cost savings from our planned restructuring program, increased costs of sales, the shift in product mix to lower margin offerings and our ability to differentiate our products from private label products. For additional information on these and other factors that could affect our forward-looking statement, see our filings with the SEC, including our most recently filed Annual Report on Form 10-K and subsequent reports on Form 10-Q and 8-K. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release.
Contact: Kraft Foods Inc. Media Claire Regan 847-646-4538 CRegan@kraft.com or Investors Chris Jakubik 847-646-5494 Chris.Jakubik@kraft.com
-------------------------------------------------------------------------------- Source: Kraft Foods Inc.
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