The Kraft Heinz Company Declares Regular Quarterly Dividend of $0.40 Per Share
February 13 2020 - 7:10AM
Business Wire
The Board of Directors of The Kraft Heinz Company (Nasdaq: KHC)
today unanimously declared a regular quarterly dividend of $0.40
per share of common stock payable on March 27, 2020, to
stockholders of record as of March 13, 2020.
Today’s dividend declaration is the Board’s confirmation of
their confidence in the turnaround plan being led by CEO Miguel
Patricio and the team he has now put in place. The Board and the
Management Team believe that maintaining a strong payout is an
important commitment to shareholders of the company, particularly
during this important period of transformation. The Company also
expects to reduce leverage as it repositions itself for sustainable
growth and returns.
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, we have produced some of the world’s most beloved
products at The Kraft Heinz Company (Nasdaq: KHC). Our Vision is To
Be the Best Food Company, Growing a Better World. We are one of the
largest global food and beverage companies, with 2018 net sales of
approximately $26 billion. Our portfolio is a diverse mix of iconic
and emerging brands. As the guardians of these brands and the
creators of innovative new products, we are dedicated to the
sustainable health of our people and our planet. To learn more,
visit www.kraftheinzcompany.com or follow us on LinkedIn and
Twitter.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words such as “commit,” “plan,” "believe,"
"anticipate," "reflect," "invest," "make," "expect," "deliver,"
“develop,” "drive," "assess," "evaluate," “establish,” “focus,”
“build,” “turn,” “expand,” “leverage,” "grow," "remain," "will,"
and variations of such words and similar future or conditional
expressions are intended to identify forward-looking statements.
Examples of forward-looking statements include, but are not limited
to, statements regarding the Company's plans, costs and cost
savings, legal matters, taxes, expectations, investments,
innovations, opportunities, capabilities, execution, initiatives,
pipeline, and growth. These forward-looking statements are not
guarantees of future performance and are subject to a number of
risks and uncertainties, many of which are difficult to predict and
beyond the Company's control.
Important factors that may affect the Company's business and
operations and that may cause actual results to differ materially
from those in the forward-looking statements include, but are not
limited to, operating in a highly competitive industry; the
Company’s ability to correctly predict, identify, and interpret
changes in consumer preferences and demand, to offer new products
to meet those changes, and to respond to competitive innovation;
changes in the retail landscape or the loss of key retail
customers; changes in the Company's relationships with significant
customers, suppliers and other business relationships; the
Company’s ability to maintain, extend, and expand its reputation
and brand image; the Company’s ability to leverage its brand value
to compete against private label products; the Company’s ability to
drive revenue growth in its key product categories, increase its
market share, or add products that are in faster-growing and more
profitable categories; product recalls or product liability claims;
unanticipated business disruptions; the Company’s ability to
identify, complete or realize the benefits from strategic
acquisitions, alliances, divestitures, joint ventures or other
investments; the Company’s ability to realize the anticipated
benefits from prior or future streamlining actions to reduce fixed
costs, simplify or improve processes, and improve its
competitiveness; the Company’s ability to successfully execute its
strategic initiatives; the impacts of the Company’s international
operations; economic and political conditions in the United States
and in various other nations where the Company does business;
changes in the Company’s management team or other key personnel and
the Company’s ability to hire or retain key personnel or a highly
skilled and diverse global workforce; risks associated with
information technology and systems, including service
interruptions, misappropriation of data or breaches of security;
impacts of natural events in the locations in which we or the
Company’s customers, suppliers, distributors, or regulators
operate; the Company’s ownership structure; the Company’s
indebtedness and ability to pay such indebtedness, as well as its
ability to comply with covenants under debt instruments; additional
impairments of the carrying amounts of goodwill or other
indefinite-lived intangible assets; foreign exchange rate
fluctuations; volatility in commodity, energy, and other input
costs; volatility in the market value of all or a portion of the
commodity derivatives we use; increased pension, labor and
people-related expenses; compliance with laws, regulations, and
related interpretations and related legal claims or other
regulatory enforcement actions, including additional risks and
uncertainties related to any potential actions resulting from the
Securities and Exchange Commission’s (“SEC”) ongoing investigation,
as well as potential additional subpoenas, litigation, and
regulatory proceedings; an inability to remediate the material
weaknesses in the Company’s internal control over financial
reporting or additional material weaknesses or other deficiencies
in the future or the failure to maintain an effective system of
internal controls; the Company’s failure to prepare and timely file
its periodic reports; the restatement of certain of the Company’s
previously issued consolidated financial statements, which resulted
in unanticipated costs and may affect investor confidence and raise
reputational issues; the Company’s ability to protect intellectual
property rights; tax law changes or interpretations; the impact of
future sales of the Company's common stock in the public markets;
the Company’s ability to continue to pay a regular dividend and the
amounts of any such dividends; volatility of capital markets and
other macroeconomic factors; and other factors. For additional
information on these and other factors that could affect the
Company's forward-looking statements, see the Company's risk
factors, as they may be amended from time to time, set forth in its
filings with the SEC. The Company disclaims and does not undertake
any obligation to update or revise any forward-looking statement in
this press release, except as required by applicable law or
regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20200213005227/en/
Michael Mullen (media) Michael.Mullen@kraftheinz.com
Christopher Jakubik, CFA (investors)
ir@kraftheinzcompany.com
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