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)

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