Kellanova, a company recognized for its extensive range of snack and breakfast food products, has announced a quarterly dividend of $0.57 per share. This dividend will be distributed on December 13, 2024, to those holding shares by the record date of December 2, 2024. The ex-dividend date is also set for December 2, indicating the deadline for eligibility to receive this dividend.
This announcement marks the 400th dividend payment to Kellanova’s common stock shareholders since 1925, symbolizing the company’s enduring dedication to providing returns to its shareholders. Formerly known as Kellogg Company, Kellanova has grown into a global leader in the snacking sector, international cereal and noodles, and North American frozen foods, with a history spanning over a century. Its brand portfolio includes popular names like Pringles, Cheez-It, Pop-Tarts, Kellogg’s Rice Krispies Treats, RXBAR, Eggo, and MorningStar Farms, among others.
Kellanova aims to be a leading snacks-focused powerhouse, capitalizing on its strong brand reputation and dedicated workforce. In 2023, the company reported net sales totaling $13 billion.
Beyond financial achievements, Kellanova is also committed to social and environmental goals. The company aspires to make a positive impact on 4 billion people by the end of 2030 through initiatives addressing hunger, sustainability, well-being, and equity, diversity, and inclusion.
Additionally, Kellanova’s recent acquisition by Mars, Inc. for $83.50 per share, a deal valued at $35.9 billion, stands out as a noteworthy event. This merger, expected to finalize in the first half of 2025, will unite two significant entities in the global snacking industry. Analysts have responded to this development with varied ratings adjustments, reflecting on the company’s strong financial performance, evidenced by its net sales of over $13 billion in 2023.
InvestingPro has highlighted Kellanova’s commitment to shareholder returns, pointing out that the company has maintained dividend payments for 54 consecutive years, demonstrating financial stability and shareholder-friendly policies. Kellanova’s dividend yield is noted at 2.81%, although the dividend growth rate over the past year as of Q2 2024 was -3.39%. The company’s market capitalization of $27.88 billion reflects its substantial presence in the global snack and food industry. Furthermore, Kellanova’s stock is trading near its 52-week high, showing market confidence in its performance and future outlook.
InvestingPro also notes that Kellanova manages a moderate level of debt, aiding in maintaining its long-standing dividend policy while pursuing ambitious social and environmental objectives. For deeper insights into Kellanova’s financial health and market position, InvestingPro offers additional analysis.
This information is based on a press release issued by Kellanova and analyzed data from InvestingPro.
