ADM Announces Increase in Cash Dividend, Election of Directors at Annual Meeting
DECATUR, Ill.--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today at its 88th Annual Stockholders’ Meeting that it increased its quarterly cash dividend from 16 cents per share to 17.5 cents per share. The company also elected members of its Board of Directors.
Cash Dividend Increased
The Board of Directors of ADM declared a cash dividend of 17.5 cents per share on the company’s common stock payable Dec. 8, 2011, to Stockholders of record Nov. 17, 2011.
This is ADM’s 320th consecutive quarterly payment, a record of 80 years of uninterrupted dividends. As of Sept. 30, 2011, 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, CEO 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.”
Election of the Board of Directors
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.
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, chemical and energy uses. With more than 265 processing plants, 400 crop procurement facilities, and the world’s premier crop transportation network, ADM helps connect the harvest to the home in more than 160 countries. For more information about ADM and its products, visit www.adm.com.
Archer Daniels Midland Company