Mondelez Launches $9B Share Buyback, Focuses on Bolt-On Acquisitions

Dec 11, 2024, 01:34 PM

Mondelez International Inc. has announced a new $9 billion share repurchase authorization, effective from January 1, 2025, replacing its current $6 billion program, which has approximately $2.8 billion remaining. The new program will run through December 2027. Additionally, Mondelez declared a quarterly dividend of $0.47 per share, payable on January 14, 2025. The company also clarified its acquisition strategy, stating a focus on bolt-on assets rather than pursuing a bid for Hershey Co., which has a market cap of nearly $40 billion. Mondelez's stock rose 4% in premarket trading, while Hershey's shares fell 5%.