Kellogg approves share repurchase authorization of up to US$1.5B, expiring on Jan. 2, 2016

BATTLE CREEK, Michigan , February 24, 2014 (press release) – Kellogg Company (NYSE: K) today announced that its Board of Directors approved a share repurchase authorization of up to $1.5 billion, which expires on January 2, 2016, the end of the company's 2015 fiscal year. This authorization supersedes the existing authorization and represents the company's commitment to returning cash to share owners. The company's guidance for share repurchases in 2014 is unchanged.

The company also announced that the Board of Directors declared a dividend of $0.46 per share on the common stock of the Company, payable on March 17, 2014, to shareowners of record at the close of business on March 4, 2014. The ex-dividend date is February 28, 2014. This is the 357th dividend that Kellogg Company has paid to owners of common stock since 1925.

About Kellogg Company

At Kellogg Company (NYSE: K), we are driven to enrich and delight the world through foods and brands that matter. With 2013 sales of approximately $14.8 billion, Kellogg is the world's leading cereal company; second largest producer of cookies and crackers; a leading producer of savory snacks; and a leading North American frozen foods company. Every day, our well-loved brands nourish families so they can flourish and thrive. These brands include Kellogg's®, Keebler®, Special K®, Pringles®, Frosted Flakes®, Pop-Tarts®, Corn Flakes®, Rice Krispies®, Kashi®, Cheez-It®, Eggo®, Coco Pops®, Mini-Wheats®, and many more. To learn more about our responsible business leadership, foods that delight and how we strive to make a difference in our communities around the world, visit www.kelloggcompany.com.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.