Altria reports distribution ratio in Kraft spin-off
March 20, 2007
by Jeff Gelski
NEW YORK — Altria Group, Inc. shareholders will receive 0.692024 of a share of Kraft Foods Inc. for each share of Altria common stock as of 5 p.m. E.S.T. on March 16, Altria said March 20. Altria on March 30 will distribute all of the shares of Kraft that it owns, or about 88.9% of Kraft’s outstanding shares as of the record date.
The board of directors of Altria voted Jan. 31 to authorize the spin-off of all shares of Kraft owned by Altria to Altria’s shareholders. For more information, visit www.altria.com/Kraftspinoff.