30 November 2023

On November 27th, 2023, The Kraft Heinz Company (NASDAQ: KHC) announced that it has authorized the repurchase of up to $3 million of its common stock.

According to company, under the share repurchase program, the company intends to repurchase shares with excess cash after allocations for disciplined capital spending, including investments to support organic growth in key areas of its business, payment of an attractive dividend, maintaining a targeted net leverage, and evaluation of strategic opportunities, including acquisitions, divestitures, and partnerships.

The new stock repurchase program is in addition to the $1 billion stock repurchase authorization announced by the company in August 2021, under which $71 million remains as of November 15, 2023.

Kraft Heinz Board Authorizes Share Repurchase Program

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