BATTLE CREEK, Mich., Feb. 24, 2014 /PRNewswire/ -- 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.Forward-Looking Statements This news release contains a "forward-looking statement" about share repurchases. This statement is made on the basis of the Company's views and assumptions as of this time and the Company undertakes no obligation to update this statement unless required by law. This statement is not a guarantee of future performance; and actual events or results may differ materially from this statement. Investors should consult the Company's filings with the Securities and Exchange Commission (including the information set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 29, 2012) for information about certain factors that could cause such differences. Copies of these filings may be obtained upon request from the Company's Investor Relations Department or on the Company's web site at http://www.kelloggcompany.com. [Kellogg Financial News]