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After Thursday’s closing bell, Kraft Foods Inc (KRFT) reported its fourth quarter earnings, topping analyst estimates.
Kraft Chairman and CEO John T. Cahill had the following comments: “While there were some positive developments in the fourth quarter, we did not deliver to our potential in 2014, with the macro environment and our execution affecting our results. I believe our brands and our people are an unbeatable combination, but as we look at 2015 and beyond, we need to leverage those strengths against a plan that accelerates the pace of change, improves execution and puts Kraft on a clear path to long-term, sustainable growth."
The company made no mention of its dividend today, but we expect it to announce its next payout sometime in early March.
KRFT shares slid more than 2% in after-hours trading as the earnings beat was not enough to overcome the negative commentary from the CEO.