Kraft Foods Board Authorizes $3 Bln Stock Repurchase Program; Declares Dividend

(RTTNews) - Kraft Foods Group Inc. (KRFT) announced that it has declared a regular quarterly dividend of $0.525 per share of common stock, which is payable on January 17, 2014, to shareholders of record on December 27, 2013.

The company's board of directors also authorized a $3 billion stock repurchase program. Under the stock repurchase program, the company is authorized to repurchase shares of common stock in the open market or in privately negotiated transactions.

The company said that the timing and amount of stock repurchases will be subject to management evaluation of market conditions, applicable legal requirements and other factors.