BATTLE CREEK, Mich.,
Dec. 15, 2017 /PRNewswire/ -- Kellogg
Company (NYSE: K) today announced that its Board of Directors has
approved a share repurchase authorization of up to $1.5 billion, under which the Company may buy
back Kellogg shares at its discretion from January 1, 2018, through December 31, 2019.
The Company uses buybacks as a way to offset dilution from
options exercises and other stock grants, as well as to
opportunistically return cash to share owners. Its previous
$1.5 billion authorization expires on
December 31, 2017.
Forward-Looking Statements Disclosure
This news release contains "forward-looking statements" about
share repurchases. These statements are 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 31, 2016) 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."
About Kellogg Company
At Kellogg Company (NYSE: K), we are driven to enrich and
delight the world through foods and brands that matter. With 2016
sales of more than $13 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®, Kellogg's Frosted Flakes®, Pop-Tarts®,
Kellogg's 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.
[K-FIN]
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SOURCE Kellogg Company