Mondelez Approves $4 Billion Share Buyback Increase, Extends Plan by 3 Years
December 02 2020 - 3:59PM
Dow Jones News
By Adriano Marchese
Mondelez International Inc. said Wednesday that it has extended
its share repurchase program by three years and increased its scope
by $4 billion.
The Chicago, Illinois-based company said that board approved to
increase the scale of the repurchase program by $4 billion, which
authorizes the board to repurchase a combined $6 billion in
total.
The repurchase program will extend to the end of 2023, replacing
the current authorization set to expire on Dec. 31.
Mondelez said it may repurchase the shares in open market
transactions, privately negotiated transactions or in any
combination. Shares fell nearly 1% to $57.88 in afternoon
trading.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 02, 2020 15:44 ET (20:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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