Campbell Announces $1.5 Billion Share Repurchase Program; Declares Quarterly Dividend
March 22 2017 - 5:33PM
Business Wire
The Board of Directors of Campbell Soup Company
(NYSE:CPB) today authorized a new share repurchase program.
Under the new program, Campbell is authorized to purchase up to
$1.5 billion of its outstanding shares in open market or privately
negotiated transactions. The program is effective as of May 1,
2017, and has no expiration date, but it may be suspended or
discontinued at any time.
The new share repurchase program will replace the June 2011
authorization of $1 billion, which is nearly exhausted. The new
program is in addition to Campbell's practice of buying back shares
sufficient to offset those issued under equity compensation
plans.
Quarterly Dividend
Campbell’s Board also declared a regular quarterly dividend on
Campbell’s capital stock of $0.35 per share. The quarterly dividend
is payable May 1, 2017, to shareholders of record at the close of
business April 12, 2017.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real
food that matters for life’s moments.” We make a range of
high-quality soups and simple meals, beverages, snacks and packaged
fresh foods. For generations, people have trusted Campbell to
provide authentic, flavorful and readily available foods and
beverages that connect them to each other, to warm memories and to
what’s important today. Led by our iconic Campbell’s brand, our
portfolio includes Pepperidge Farm, Bolthouse Farms, Arnott’s, V8,
Swanson, Pace, Prego, Plum, Royal Dansk, Kjeldsens and Garden Fresh
Gourmet. Founded in 1869, Campbell has a heritage of giving back
and acting as a good steward of the planet’s natural resources. The
company is a member of the Standard & Poor’s 500 and the Dow
Jones Sustainability Indexes. For more information, visit
www.campbellsoupcompany.com or follow company news on Twitter via
@CampbellSoupCo. To learn more about how we make our food and the
choices behind the ingredients we use, visit
www.whatsinmyfood.com.
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Campbell Soup CompanyINVESTOR
CONTACT:Ken
Gosnell856-342-6081ken_gosnell@campbellsoup.comorMEDIA CONTACT:Carla
Burigatto856-342-3737carla_burigatto@campbellsoup.com
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