The board of directors of ADM declared a cash dividend of 17.5¢ per share on the company’s common stock payable Dec. 8, to stockholders of record Nov. 17.
This is ADM’s 320th consecutive quarterly payment, a record of 80 years of uninterrupted dividends. As of Sept. 30, there were 667,932,954 shares of ADM stock outstanding.
“We are increasing our dividend to reflect the earnings growth we have experienced during the past fiscal year and our commitment to deliver returns to our shareholders for both the near term and the long term,” said Chairman, Chief Executive Officer and President Patricia A. Woertz. “We have a strong balance sheet to support this increase and we are confident we have a solid foundation to drive long-term earnings growth for our company.”
ADM also announced the election to its board of directors of Terrell K. Crews as well as the re-election of George W. Buckley, Mollie Hale Carter, Pierre Dufour, Donald E. Felsinger, Antonio Maciel Neto, Patrick J. Moore, Thomas F. O’Neill, Kelvin R. Westbrook and Patricia A. Woertz.