Local Business

Kraft Foods raises dividend by 5 percent

NORTHFIELD – Kraft Foods Group Inc. is boosting its quarterly dividend by 5 percent to 52.5 cents per share from 50 cents.

The Northfield-based food and beverage company, with brands including Jell-O, Oscar Mayer and Maxwell House, said late Tuesday that the dividend will be paid Oct. 25 to shareholders of record Oct. 11.

Kraft Foods split from Mondelez International Inc. last year. The split was intended to help the two companies each focus on a more targeted lineup of brands.

Kraft Foods took North American grocery brands, while Mondelez took global snack brands such as Oreo, Chips Ahoy and Cadbury chocolates.

Kraft shares finished at $53.06 on Wednesday.

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