Altria Group yesterday said its shareholders will receive 0.692024 of a Kraft Foods share for each Altria share held as of the close of business on 16 March, as it completes its spin-off of the largest North American food maker.

The shares will be distributed on 30 March, with Altria divesting the remaining 88.9 per cent of Kraft that it owns.
Altria announced the timing for the long-awaited spin-off on 31 January. The spin-off will separate Kraft, which makes Oreo cookies, Maxwell House coffee and a host of other products, from Altria's Philip Morris tobacco businesses, which make Marlboro cigarettes. Analysts also expect Altria to eventually split Philip Morris USA and Philip Morris International into two separate companies, possibly later this year.