Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Friday session in red amid volatile trading. The shares closed down -1.55 points or -3.55% at $42.09 with 10.86 million shares getting traded. Post opening the session at $43.09, the shares hit an intraday low of $42.09 and an intraday high of $43.27 and the price vacillated in this range throughout the day. The company has a market cap of $65.53 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Aug. 12, 2016 announced an agreement to purchase from Burton’s Biscuit Company the license that enables the company to manufacture, market and sell Cadbury-branded biscuits around the world, including in the UK, France, Ireland, North America and Saudi Arabia, subject to regulatory approval.
“Ownership of the Cadbury biscuits license offers us exciting opportunities to accelerate global growth and innovation, as we expand our leading position in biscuits, globally and in Europe,” said Hubert Weber, Executive Vice President and President, Mondelēz Europe. “The transaction will help us to unify and expand our global Cadbury biscuits portfolio in key markets and enable us to explore delicious new products by using the best of our chocolate and biscuit innovation platforms.”
Mondelēz International and Burton’s Biscuit Company have agreed that Cadbury-branded biscuits will continue to be manufactured in Burton’s factories by their employees under a co-manufacturing agreement. The companies have agreed not to disclose financial terms of the transaction.
Shares of Altria Group Inc (NYSE:MO) ended Friday session in red amid volatile trading. The shares closed down -2.84 points or -4.28% at $63.56 with 10.55 million shares getting traded. Post opening the session at $66.06, the shares hit an intraday low of $63.56 and an intraday high of $66.08 and the price vacillated in this range throughout the day. The company has a market cap of $123.59 billion and the numbers of outstanding shares have been calculated to be 1.95 billion shares.
Altria Group Inc (MO) on August 26, 2016 announced that its Board of Directors voted to increase Altria’s regular quarterly dividend by 8.0% to $0.61 per common share versus the previous rate of $0.565 per common share. The quarterly dividend is payable on October 11, 2016, to shareholders of record as of September 15, 2016. The ex-dividend date is September 13, 2016.
The new annualized dividend rate is $2.44 per common share, representing a yield of 3.7% based on Altria’s closing stock price of $66.33 on August 19, 2016.