Kraft’s board of directors has approved a US$5bn share repurchase programme.
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The scheme will become effective immediately following the distribution of approximately 89% of Kraft shares by Altria on 30 March.
“This programme will give us the capacity to repurchase a significant amount of stock over the next two years,” CEO Irene Rosenfeld said. “And it will help to support shareholder returns until we fully achieve our growth targets.”
