Key Developments: Kraft Foods Group Inc (KRFT.O)
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23 May 2013
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$56.95
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3,273,874
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$42.00
Latest Key Developments (Source: Significant Developments)
Kraft Foods Group Inc Declares Regular Quarterly Dividend Of $0.50 Per Share
Kraft Foods Group Inc announced that Board of Directors has declared a regular quarterly dividend of $0.50 per share of common stock. This dividend is payable on July 12, 2013 to shareholders of record as of June 28, 2013. Full Article
Kraft Foods Group Inc Reaffirms FY 2013 EPS Guidance
Kraft Foods Group Inc announced that for fiscal 2013, it anticipate EPS of approximately $2.75, 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 Declares Regular Quarterly Dividend Of $0.50 Per Share
Kraft Foods Group Inc announced that its Board of Directors has declared a regular quarterly dividend of $0.50 per share of common stock. This dividend is payable on April 12, 2013 to shareholders of record as of March 29, 2013. Full Article
Kraft Foods Group Inc Raises FY 2013 EPS Guidance; Comments On FY 2013 Revenue Guidance-Conference Call
Kraft Foods Group Inc announced that for fiscal 2013, it anticipate EPS of approximately $2.75, compared to the $2.60 previously stated. The adjusted number reflects the $0.22 per share non-cash benefit from the switch to the new post-employment benefit accounting, and the negative impact from the restructuring program. The Company also announced that it expects fiscal 2013 organic revenue growth, in line with market growth, despite about 1 point of impact from product pruning. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.65 and revenue of $19.076 billion for fiscal 2013. Full Article
Kraft Foods Group Inc Declares Quarterly Dividend Of $0.50 Per Share
Kraft Foods Group Inc announced that it has declared a quarterly dividend of $0.50 per share of common stock, payable on January 14, 2013 to shareholders of record as of December 31, 2012 . Full Article
Kraft Foods Group Inc Issues FY 2013 EPS Guidance-Conference Call
Kraft Foods Group Inc announced that for fiscal 2013, it expects productivity improvements and overhead savings to drive fiscal 2013 EPS of approximately $2.60 on a GAAP basis. This outlook assumes interest expense of approximately $520 million, and an effective tax rate of 35%. The guidance also includes restructuring costs of about $240 million or $0.26 per share. Full Article
Kraft Foods Group Inc Approves $650 Million Restructuring Plan-Reuters
Reuters reported that Kraft Foods Group Inc has approved a $650 million restructuring plan related to its spin-off from Kraft Foods Inc in October. The Company said the restructuring cost involves severance related to the spin-off, asset disposals and other one-time expenses. Kraft Foods Group said about half of the total restructuring cost is expected to result in cash expenditures. In addition to the restructuring, the Company also approved related capital expenditures of $200 million. It expects to complete the restructuring by the end of 2014. Full Article
Kraft Foods Group Inc To Sell Maxwell House K-cups For Green Mountain Coffee Roasters, Inc.'s Keurig-Reuters
Reuters reported that Kraft Foods Group Inc plans to sell Maxwell House and Gevalia single-serve coffee pods compatible with Keurig brewing systems, in another blow to Keurig parent Green Mountain Coffee Roasters, Inc. The pods are not licensed by Keurig or affiliated in any way. That means that Green Mountain will not receive any royalties from their sale. The move by Kraft, which also owns the rival Tassimo single-serve brewer, represents the first time a big-name coffee brand has skirted Green Mountain in making cups for its market-leading system. Certain Green Mountain patents related to the design of its K-Cups expired in September, paving the way for a wave of competitors. Full Article
Mondelez International, Inc. Completes Spin-Off Of Kraft Foods Group Inc
Mondelez International, Inc., formerly Kraft Foods Inc., announced that it has completed the previously announced spin-off of its North American grocery business, Kraft Foods Group, Inc.. On October 1, 2012 (distribution date), Mondelez International completed the spin-off by distributing all outstanding shares of Kraft Foods Group common stock that it owned ratably to its shareholders of record as of the close of business on September 19, 2012. The distribution was based on a distribution ratio of one share of Kraft Foods Group common stock for every three shares of Mondelez International common stock. Concurrent with the spin-off, Kraft Foods Inc. changed its name to Mondelez International, Inc. Starting, October 2, 2012, Mondelez International will trade on The NASDAQ Global Select Market under the ticker symbol MDLZ, and Kraft Foods Group will trade on The NASDAQ Global Select Market under the ticker symbol KRFT. The ticker symbol KFT has been retired. Full Article
Kraft Foods Group Inc And Mondelēz International To Begin Trading
Kraft Foods Inc. announced that it expects shares of Kraft Foods Group, Inc. common stock and Mondelēz International, Inc. common stock ex-distribution to begin trading on a when-issued basis on The NASDAQ Global Select Market on September 17, 2012, under the symbols KRFTV and MDLZV, respectively. Kraft Foods Inc. will continue to trade, with the entitlement to the shares of Kraft Foods Group, Inc. common stock that will be distributed in the spin-off, on The NASDAQ Global Select Market under the symbol KFT. Kraft Foods Inc. will complete the spin-off of Kraft Foods Group, Inc. on October 1, 2012 (distribution date) through a pro rata dividend of all outstanding shares of Kraft Foods Group common stock it owns to its shareholders of record as of the close of business on September 19, 2012 (record date). On the distribution date, each Kraft Foods Inc. shareholder will receive one share of Kraft Foods Group common stock for every three shares of Kraft Foods Inc. common stock held by such shareholder on the record date. Trades made in the ex-distribution market of Mondelēz International, Inc. (under the ticker symbol MDLZV) will not carry rights to receive shares of Kraft Foods Group in the spin-off. Kraft Foods Group is expected to begin regular-way trading on The NASDAQ Global Select Market on October 2, 2012, under the ticker symbol KRFT. Full Article
Kraft will lower bagged Gevalia coffee prices by 6 percent
NEW YORK, May 3 - Kraft Foods Group Inc said on Friday that it will lower the price of its Gevalia retail bagged coffee by 6 percent, effective May 5, due to sustained declines in the green coffee market.
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