ADM Announces Increase in Cash Dividend, Election of Directors at Annual Meeting
November 03 2011 - 1:00PM
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.
About ADM
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.
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