Today the board of directors of ConAgra Foods, Inc., (NYSE:CAG) announced two items related to the company's capital allocation program:
- The quarterly dividend has been raised to $0.19 per common share. This new rate will start with the Dec. 3, 2007 dividend payment, which will be made to shareholders of record as of Nov. 2, 2007.
- An additional $500 million of share repurchases has been authorized. The company plans to repurchase shares periodically, depending on market conditions, and may make purchases in the open market or through privately negotiated transactions.
