Summary
Mondelēz International, Inc. (MDLZ) announced a significant expansion of its capital return program through an increased share repurchase authorization and a new Accelerated Share Repurchase (ASR) agreement. The Board of Directors approved an additional $1.7 billion to the existing share repurchase program, bringing the total authorization to $7.7 billion of Class A Common Stock, to be executed through 2016. This move signals management's confidence in the company's financial health and its commitment to enhancing shareholder value by reducing the number of outstanding shares.
Key Highlights
- 1Board of Directors approved a $1.7 billion increase in the share repurchase program.
- 2Total share repurchase authorization now stands at $7.7 billion of Class A Common Stock.
- 3Repurchases are authorized to occur through 2016.
- 4Entered into an Accelerated Share Repurchase (ASR) agreement to purchase $1.7 billion of common stock.
- 5Following the ASR transaction, $4.8 billion remains under the existing repurchase authorization.
- 6The filing was made on December 3, 2013, with the earliest event reported on December 2, 2013.
- 7This action demonstrates a commitment to returning capital to shareholders and potentially increasing Earnings Per Share (EPS).