K - This Value Stock is Splitting Into 3 Companies. What's Next for Income Investors?
On June 21, Kellogg (NYSE: K) announced that it plans to split into three different companies next year. Consumers may associate the company primarily with its iconic breakfast cereals, but it has many diverse brands under its corporate umbrella.
However, if you're a Kellogg shareholder, it's likely because of its dividend. And because of this, you're likely wondering what's going to happen to your quarterly payments after the spinoffs. Here's what we know so far.
Kellogg's placeholder designations for the future new companies are "Global Snacking," "North America Cereal," and "Plant." Global Snacking will get brands like Pringles and Cheez-It, North America Cereal will obviously get iconic names like Frosted Flakes and Apple Jacks, while Plant will take the company's plant-based meat, MorningStar Farms.
For further details see:
This Value Stock is Splitting Into 3 Companies. What's Next for Income Investors?