Sanderson Farms, Inc. (NASDAQ: SAFM) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.14 (fourteen cents) per share, representing a sixteen percent increase and new annual dividend rate of $0.56 (fifty-six cents) per share. The quarterly dividend is payable October 23, 2007, to stockholders of record on October 9, 2007.
“The Board's decision to increase our regular quarterly dividend reflects Sanderson Farms’ strong operating results in fiscal 2007 as well as the Company's solid financial position,” commented Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms. “Our continued growth and consistent execution of our operating strategy have placed us in this position and we are pleased to have the opportunity to reward our shareholders.”
Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh and frozen chicken and other prepared food items. Its shares trade on the NASDAQ Global Select Market under the symbol SAFM.
This press release contains forward-looking statements based on management's current views and assumptions. Actual results and events may differ. For a discussion of these matters, please refer to the "Cautionary Statement Regarding Risks and Uncertainties That May Affect Future Performance" in Item 7 of the Company's 2006 Annual Report on Form 10-K and please refer to the cautionary statement found in Management's Discussion and Analysis of Financial Condition and Results of Operations under the heading "General" in Part I, Item 2 of the Quarterly Report on Form 10-Q for the Company's third quarter ended July 31, 2007.
Contacts:
Mike Cockrell, 601-649-4030
Treasurer
& Chief Financial Officer
