Key Developments: Kraft Foods Group Inc (KRFT.O)

KRFT.O on Nasdaq

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15 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Kraft Foods Group Inc declares regular quarterly dividend of $0.525 per share
Monday, 3 Mar 2014 05:00pm EST 

Kraft Foods Group Inc:Declares a regular quarterly dividend of $0.525 per share of common stock, payable on April 25, 2014, to shareholders of record on April 11, 2014.  Full Article

Kraft Foods Group Inc announces executive transition
Thursday, 13 Feb 2014 04:15pm EST 

Kraft Foods Group Inc:Says its Board of Directors approved the transition of Executive Chairman John Cahill to Non-Executive Chairman of Kraft's Board of Directors on Mar. 8.  Full Article

Kraft Foods Group Inc announces stock repurchase program and declares regular quarterly dividend
Tuesday, 17 Dec 2013 09:05pm EST 

Kraft Foods Group Inc:Declares regular quarterly dividend of $0.525 per share of common stock, payable on Jan. 17, 2014, to shareholders of record on Dec. 27, 2013.Says the Board also authorized a $3 bln stock repurchase program.  Full Article

Arbitrator Says Starbucks Corp Must Pay Kraft Foods Group Inc In Grocery Fight - Reuters
Tuesday, 12 Nov 2013 04:48pm EST 

Reuters reported that Starbucks Corp said on November 12, 2013 an arbitrator has concluded that it must pay Kraft Foods Group Inc $2.23 billion in damages plus $527 million in prejudgment interest and attorneys fees after the coffee chain's early termination of the companies' grocery deal. Kraft began selling bags of Starbucks coffee in grocery stores beginning in September 1998. Starbucks prematurely ended the contract in March 2011 and gave the business to privately held Acosta Inc. Starbucks accused Kraft of multiple material breaches of contract, including mismanaging the brand. Kraft denied any breach and said that if Starbucks wanted out, it must pay Kraft fair value for the business, which brought in $500 million a year in revenue. The deal's initial term was set to expire in March 2014. The agreement was to renew automatically for successive 10-year terms unless sooner terminated per the agreement.  Full Article

Kraft Foods Group Inc Reaffirms FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance
Wednesday, 30 Oct 2013 04:00pm EDT 

Kraft Foods Group Inc updated its fiscal 2013 guidance and expects organic net revenue growth, consistent with previous guidance, to be in line with or slightly lower than the growth of the North American food and beverage market and earnings per share (EPS) of approximately $3.58 versus approximately $3.40 previously, reflecting the additional $0.18 benefit from market-based impacts to post-employment benefit plans. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.80 for fiscal 2013.  Full Article

Kraft Foods Group Inc Voluntarily Recalls Some Varieties Of Kraft and Polly-O String Cheese And String Cheese Twists Due To Premature Spoilage
Friday, 25 Oct 2013 05:56pm EDT 

Kraft Foods Group Inc announced that it voluntarily recalling some varieties of Kraft and Polly-O String Cheese and String Cheese Twists products. These products may spoil before their Best When Used By code dates, leading to product discoloration. The affected products all have code dates from October 25, 2013 through February 11, 2014. Approximately 735,000 cases of the affected product were shipped to customers across the United States. The affected product was not distributed in Canada. Consumers can find the Best When Used By date on the back of multi-count packages toward the bottom. For string cheese products labeled for individual sale, the Best When Used By date is on the bottom front of the package. No other Kraft or Polly-O String Cheese or String Cheese Twists products -- or any other Kraft Foods or Polly-O products -- are being recalled. Kraft is conducting this recall after receiving several reports from consumers of premature spoilage of some of the string cheese products listed above. Kraft has ceased the production and distribution of the affected products from the relevant facility as the Company continues its investigation to resolve the problem. The affected product was produced in Campbell, NY.  Full Article

Kraft Foods Group Inc Approves Regular Quarterly Dividend
Tuesday, 1 Oct 2013 06:45pm EDT 

Kraft Foods Group Inc announced that its Board of Directors approved a regular quarterly dividend of $0.525 per share of common stock, an increase of 5% versus the prior rate of $0.50 per share. This dividend is payable on October 25, 2013 to shareholders of record as of October 11, 2013.  Full Article

Kraft Foods Group Inc Comments On FY 2014 Guidance-Conference Call
Thursday, 5 Sep 2013 11:30am EDT 

Kraft Foods Group Inc announced that for fiscal 2014, it expects operating income and EPS growth will be greater than our long-term targets. This is due to a step down from restructuring spending of approximately $325 million in fiscal 2013 to an ongoing spending on cost savings initiatives in the $125 million range. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBIT of $3.39 billion and EPS of $3.21 for fiscal 2014.  Full Article

Kraft Foods Group Inc Raises FY 2013 EPS Guidance
Thursday, 1 Aug 2013 04:00pm EDT 

Kraft Foods Group Inc announced that it is updated its guidance for fiscal 2013, including organic net revenue growth expected to be in line with or slightly lower than the growth of the North American food and beverage marketand EPS of approximately $3.40, versus approximately $2.75 previously. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.78 for fiscal 2013.  Full Article

Kraft Foods Group Inc Announces Creation Of Two New Business Units
Friday, 14 Jun 2013 10:45am EDT 

Kraft Foods Group Inc announced plans to create two new, standalone business units: Meals and Desserts, and Enhancers and Snack Nuts. With the creation of these new business units, the Company will be able to place even greater focus on brand-building while reducing the complexity of managing a portfolio with many distinct brands and product categories. The new business structures and leadership appointments are effective July 1, 2013. The business units will include many of Kraft's brands: Meals and Desserts -- Cool Whip whipped topping, Jet-Puffed marshmallows, JELL-O dry packaged and ready-to-eat desserts, Kraft Mac & Cheese dinner, Shake 'N Bake coatings, Stove Top stuffing mix and Velveeta dinners and meal kits; Enhancers and Snack Nuts --A.1. steak sauce, Grey Poupon premium mustards, Kraft and Bulls-Eye barbecue sauces, Kraft and Good Seasons dressings, Kraft and Miracle Whip spoonable dressings and Planters nuts, trail mixes and peanut butters.  Full Article

Photo

Teen Thompson wins maiden LPGA major at Kraft Nabisco

- Teenager Lexi Thompson became the second youngest winner of an LPGA major when she emphatically outplayed Michelle Wie at the $2 million Kraft Nabisco Championship to triumph by three strokes on Sunday.

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