KRAFT FOODS GROUP DECLARES QUARTERLY DIVIDEND OF $0.50 PER SHARE First Dividend to be Issued by Newly Independent Company
NORTHFIELD, Ill., Dec. 10, 2012 /PRNewswire/ -- The Board of Directors of Kraft Foods Group, Inc. (NASDAQ: KRFT) today has declared a quarterly dividend of $0.50 per share of common stock, payable on Jan. 14, 2013 to shareholders of record as of Dec. 31, 2012.
"We are pleased to declare our first dividend as a newly independent Kraft," said Tony Vernon, Chief Executive Officer of Kraft. "This dividend reflects our intention to deliver a significant return of cash to shareholders through a superior dividend payout that's targeted to grow consistently, year after year."
ABOUT KRAFT FOODS GROUP
Kraft Foods Group, Inc. (NASDAQ: KRFT) is North America's fourth largest consumer packaged food and beverage company, with revenues of approximately $19 billion in 2011. Launched as a public and independent company on Oct. 1, 2012, the new Kraft has the spirit of a startup and the soul of a powerhouse. The company has an unrivaled portfolio of products in the beverages, cheese, refrigerated meals and grocery categories. Its iconic brands include Kraft, Maxwell House, Oscar Mayer, Planters and JELL-O. Kraft's 25,000 employees in the U.S. and Canada have a passion for making the foods and beverages people love. Kraft Foods Group is a member of the Standard & Poor's 500 index. For more information, visit www.kraft.com and www.facebook.com/kraft.
This press release contains forward-looking statements about our dividends and return of cash to shareholders. The words "deliver," "target" and similar expressions are intended to identify the forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond Kraft's control, and 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 SEC, including its Registration Statement on Form 10. 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, Inc.