Kellogg (K) Announces $650M Buyback, Declares $0.375/Sh Qtr Dividend
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Kellogg Company (NYSE: K) announced that its Board of Directors authorized the repurchase of up to $650 million of common stock during 2010. Furthermore, the Board of Directors approved the rollover into 2010 of any portion of the 2009 $650 million share repurchase authorization that remains unused by the end of the 2009 fiscal year.
Kellogg also declared a dividend of $.375 per share on the common stock of the Company, payable on December 15, 2009, to shareowners of record at the close of business on December 2, 2009. The ex-dividend date is November 30, 2009. The dividend yield on Kellogg is 3%.
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