Food Company Kraft Heinz Steps Up With A Major Share Buyback: Details

Kraft Heinz Co KHC said its Board of Directors approved a repurchase program for up to $3 billion of shares through December 26, 2026.

Under the share repurchase program, the company intends to repurchase shares with excess cash after allocations for disciplined capital spending.

"A stronger balance sheet, along with advancements we have made across the business, gives us further conviction behind our strategy and the belief that company shares are an attractive investment opportunity," said CEO and Board Chair Miguel Patricio.

The company is not obligated to repurchase any specific number of shares and the program may be modified, suspended, or discontinued at any time.

Kraft Heinz held $1.05 billion in cash and equivalents as of September 30, 2023.

Price Action: KHC shares are trading higher by 0.49% at $35.11 on the last check Monday.

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