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Campbell Announces $1.5 Billion Share Repurchase Program; Declares Quarterly Dividend

CAMDEN, N.J.–(BUSINESS WIRE)–Mar. 22, 2017–
The Board of Directors of Campbell Soup Company (NYSE:CPB) today
authorized a new share repurchase program. Under the new program,
Campbell is authorized to purchase up to $1.5 billion of its outstanding
shares in open market or privately negotiated transactions. The program
is effective as of May 1, 2017, and has no expiration date, but it may
be suspended or discontinued at any time.

The new share repurchase program will replace the June 2011
authorization of $1 billion, which is nearly exhausted. The new program
is in addition to Campbell’s practice of buying back shares sufficient
to offset those issued under equity compensation plans.

Quarterly Dividend

Campbell’s Board also declared a regular quarterly dividend on
Campbell’s capital stock of $0.35 per share. The quarterly dividend is
payable May 1, 2017, to shareholders of record at the close of business
April 12, 2017.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” We make a range of high-quality soups
and simple meals, beverages, snacks and packaged fresh foods. For
generations, people have trusted Campbell to provide authentic,
flavorful and readily available foods and beverages that connect them to
each other, to warm memories and to what’s important today. Led by our
iconic Campbell’s brand, our portfolio includes Pepperidge
Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal
Dansk, Kjeldsens
and Garden Fresh Gourmet. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward of
the planet’s natural resources. The company is a member of the Standard
& Poor’s 500 and the Dow Jones Sustainability Indexes. For more
information, visit www.campbellsoupcompany.com
or follow company news on Twitter via @CampbellSoupCo.
To learn more about how we make our food and the choices behind the
ingredients we use, visit www.whatsinmyfood.com.

Source: Campbell Soup Company

Campbell Soup Company
INVESTOR CONTACT:
Ken
Gosnell
856-342-6081
[email protected]
or
MEDIA
CONTACT:
Carla Burigatto
856-342-3737
[email protected]