5 unchanged sentences
The annual dividend rate on our Common Stock in 2023 was $4.456 per share.
−Removed: On January 31, 2023, our Board declared a quarterly dividend of $1.036 per share of Common Stock payable on March 15, 2023, to stockholders of record as of February 17, 2023.
−Removed: It is the Company’s 373rd consecutive quarterly Common Stock dividend.
+Added: On February 7, 2024, our Board declared a quarterly dividend of $1.370 per share of Common Stock payable on March 15, 2024, to stockholders of record as of February 20, 2024.
+Added: It is the Company’s 376th consecutive quarterly Common Stock dividend.
A quarterly dividend of $1.245 per share of Class B Stock also was declared.
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(2) In July 2018, our Board of Directors approved a $500 million share repurchase authorization.
−Removed: As of December 31, 2022, approximately $110 million remained available for repurchases of our Common Stock under this program.
In May 2021, our Board of Directors approved an additional $500 million share repurchase authorization.
+Added: As a result of the February 2023 Stock Purchase Agreement with Hershey Trust Company, as trustee for the Milton Hershey School Trust (the “School Trust”), the July 2018 share repurchase authorization was completed and as of December 31, 2023, approximately $370 million remained available for repurchases of our Common Stock under our May 2021 share repurchase authorization.
+Added: In December 2023, our Board of Directors approved an additional $500 million share repurchase authorization.
This program is to commence after the existing 2021 authorization is completed and is to be utilized at management’s discretion.
−Removed: These share repurchase programs do not have an expiration date.
−Removed: In February 2023, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the Milton Hershey School Trust (the “School Trust”), pursuant to which the Company purchased 1,000,000 shares of the Company’s Common Stock from the School Trust at a price equal to $239.91 per share, for a total purchase price of $239.9 million.
−Removed: As a result of this repurchase, our July 2018 share repurchase authorization program was completed in February 2023, and approximately $370 million remains available for repurchases under our May 2021 share repurchase authorization.
+Added: The May 2021 and December 2023 share repurchase programs do not have an expiration date.
The Hershey Company | 2023 Form 10-K | Page 20
In February 2023, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the School Trust, pursuant to which the Company purchased 1,000,000 shares of the Company’s Common Stock from the School Trust at a price equal to $239.91 per share, for a total purchase price of $239.9 million.
+Added: In February 2022, the Company entered into a Stock Purchase Agreement with Hershey Trust Company, as trustee for the School Trust, pursuant to which the Company purchased 1,000,000 shares of the Company’s Common Stock from the School Trust at a price equal to $203.35 per share, for a total purchase price of $203.4 million.
Stockholder Return Performance Graph
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and the S&P 500 Packaged Foods Index
−Removed: *$100 invested on December 31, 2017 in stock or index, assuming reinvestment of dividends.
Company/Index 2018 2019 2020 2021 2022 2023
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.