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Article: Kraft spinoff not on agenda: Altria board meeting doesn't address issue.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- August 31, 2006
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Copyright informationCOPYRIGHT 2006 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Schmeltzer
Aug. 31--Altria Group Inc., the owner of Kraft Foods Inc., at a board meeting Wednesday remained silent on plans to spin off the maker of Oreo cookies, Philadelphia Cream Cheese and Velveeta cheese. Instead, the New York-based holding company, which is also the parent of cigarette-makers Philip Morris USA and Philip Morris International, raised its quarterly dividend 7.5 percent, to 86 cents per share. Some analysts and investors expected the company to unveil plans after its Wednesday board meeting for separating Kraft from the tobacco units because courts recently ruled in favor of the tobacco industry in three multibillion-dollar lawsuits. ...
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