Once again, [chancellor] George Osborne is turning a blind eye to the accounting machinations of big powerful multi-nationals, but turning the screw on those struggling financially.“While the exchequer is denied its due from Mondelez, shareholders are feasting on dividend payments of £1.3bn.”
Another case of, if you can, you need to join them to reap the dividends. The dividend return is not that sweet at only 1.35% although the press are reporting billions in dividends the rate is not market leading. As ever the hype is not quite justified, although the moral codes of the multinational is to be questioned.
Mondelez International, Inc. is a snack food and beverage company. The Company manufactures and markets snack food and beverage products for consumers in approximately 165 countries around the world. The Company offers its brands in five product categories: biscuits (including cookies, crackers and salted snacks); chocolate; gum and candy; beverages (including coffee and powdered beverages), and cheese and grocery. It has a portfolio of around 58 brands, which include nine billion dollar brands: LU, Nabisco and Oreo biscuits; Cadbury, Cadbury Dairy Milk and Milka chocolates; Trident gum, and Jacobs coffee and Tang powdered beverages. It has operations in Latin America, Asia Pacific, Eastern Europe, Middle East, and Africa (EEMEA), Europe and North America. The Company’s products are sold to supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores and other retail food outlets.