Sara Lee announces $1.0 billion share repurchase program
DOWNERS GROVE, Ill. (September 25, 2009) – Sara Lee Corp. (NYSE: SLE) announced that its board of directors has authorized a $1.0 billion share repurchase program. This is in addition to the 13.5 million share authorization (approximately $150 million based on the recent market price) remaining under the prior share repurchase program. The company reiterated that its board intends to maintain the current quarterly dividend of $.11 for the next four quarters, regardless of the timing of dispositions. Sara Lee intends to maintain a credit profile consistent with a strong investment grade credit rating.
