CHICAGO--(BUSINESS WIRE)--Headline of release should read: ADM Directors Declare Cash Dividend, Extend Share Repurchase Program (instead of ADM Directors Vote to Increase Cash Dividend, Extend Share Repurchase Program).
The corrected release reads:
ADM DIRECTORS DECLARE CASH DIVIDEND, EXTEND SHARE REPURCHASE PROGRAM
Archer Daniels Midland Company’s (NYSE: ADM) Board of Directors has declared a cash dividend of 35.0 cents per share on the company’s common stock. The dividend is payable on Sept 12, 2019, to shareholders of record on Aug. 22, 2019.
This is ADM’s 351st consecutive quarterly payment, a record of 87 years of uninterrupted dividends. As of June 30, 2019, there were 557,839,025 shares of ADM common stock outstanding.
In addition, the Board authorized an extension of ADM’s share repurchase program. The original 5-year program authorized the purchase of 100,000,000 shares of ADM stock in between Jan. 1, 2015, and Dec. 31, 2019. The program has now been extended an additional five years. The Board also authorized repurchases of up to an additional 100,000,000 shares under the extended program. As previously, the number and timing of any shares repurchased will be determined at the discretion of the Company.
About ADM
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with approximately 40,000 employees serving customers in nearly 200 countries. With a global value chain that includes approximately 450 crop procurement locations, more than 330 food and feed ingredient manufacturing facilities, 62 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com.