Oil-Dri Board of Directors Declares Quarterly Dividends and Authorizes Stock Repurchases
March 21 2018 - 4:08PM
The Board of Directors of Oil-Dri Corporation of America (NYSE:ODC)
today declared quarterly cash dividends of $0.23 per share of the
Company’s Common Stock and $0.173 per share of the Company’s Class
B Stock.
The dividends declared will be payable on June 1,
2018 to stockholders of record at the close of business on May 18,
2018. The Company has paid cash dividends continuously since 1974
and has increased dividends annually for fourteen consecutive
years.
The Board of Directors also ratified its prior authorizations to
repurchase 250,000 shares of Common Stock approved on March 11,
2011 and 250,000 shares of Common Stock approved on June 14, 2012.
A total of 300,822 shares of Common Stock may yet be repurchased
under these authorizations. The Board of Directors also authorized
the repurchase of 300,000 shares of Class B Stock.
Oil-Dri expects to release earnings for its third quarter of
fiscal 2018 after the close of the U.S. stock market on Friday,
June 8, 2018 and to host an Investor Teleconference on Monday, June
11, 2018. Teleconference details will be communicated via web alert
and posted on the Events page of the Company’s website
(investors.oildri.com/events) approximately one week prior to the
call.
While Oil-Dri’s founding product was granular clay floor
absorbents, it has since greatly diversified its portfolio. The
Company’s mission to “Create Value from Sorbent Minerals” is
supported by its wide array of consumer and business to business
product offerings. In 2016, Oil-Dri celebrated its
seventy-fifth year of business and looks forward to the next
milestone. To learn more about the Company, visit oildri.com.
Reagan B. CulbertsonInvestor
Relations ManagerInvestorRelations@oildri.com (312) 321-1515
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