ConAgra Foods Holds Annual Meeting of Stockholders
September 25 2009 - 3:15PM
Business Wire
ConAgra Foods, Inc., (NYSE: CAG) one of America’s leading
packaged food companies, held its annual meeting of stockholders in
Omaha, Neb., today.
Chief Executive Officer Gary Rodkin reviewed key elements of the
progress the company made in fiscal 2009, which ended in May. Key
highlights included the turnaround of the company’s Consumer Foods
business, product innovation, implementation of insights-based
marketing and continued cost-saving initiatives.
Steve Goldstone, ConAgra Foods’ non-executive chairman of the
board, opened the meeting, and commented on the company’s
performance. “Since last year, each of us has experienced the
effects of one of the most destabilizing market environments the
country has seen,” Goldstone said. “I am happy to report that in
the face of a very tough external environment, ConAgra Foods began
to deliver results that truly show its potential.”
Stockholders elected the eleven director candidates as directors
of ConAgra Foods, approved each of the 2009 Stock Plan and
Executive Incentive Plan and ratified the appointment of the
company’s auditors for fiscal 2010. Certified vote results will be
presented in the company’s first-quarter Form 10-Q to be filed with
the Securities and Exchange Commission.
Earlier today, the board of directors of ConAgra Foods approved
a dividend increase by raising the quarterly dividend to $0.20 per
share from $0.19 per share currently. On an annualized basis, the
dividend increases to $0.80 per share from $0.76 per share. The
first payment of the new quarterly rate of $0.20 per common share
will be paid on Dec. 1, 2009, to stockholders of record at the
close of business on Oct. 30, 2009.
“I am pleased with the progress we’re seeing,” Rodkin said. “We
are investing in the growth of the business through high-quality
marketing programs, product innovation, and operating systems that
we expect to drive sustainable, profitable growth for our
stockholders. Fiscal 2009 saw us begin to deliver on our potential,
with healthy increases in net sales, operating profits and EPS on a
continuing operations basis. But the turnaround in our Consumer
Foods business really was the big story of fiscal 2009. It happened
through growth where it matters most—in our most profitable,
strongest brands with category leading positions.”
ConAgra Foods, Inc., (NYSE: CAG) is one of North America’s
leading food companies, with brands in 97 percent of America’s
households. Consumers find Banquet, Chef Boyardee, Egg Beaters,
Healthy Choice, Hebrew National, Hunt’s, Marie Callender’s, Orville
Redenbacher’s, PAM, Peter Pan, Reddi-wip and many ConAgra Foods
brands in grocery, convenience, mass merchandise and club stores.
ConAgra Foods also has a strong business-to-business presence,
supplying potato, other vegetable, spice and grain products to a
variety of well-known restaurants, foodservice operators and
commercial customers. For more information, please visit us at
www.conagrafoods.com.
Annual Stockholder Meeting Webcast:
The company webcast its 2009 Annual Stockholders’ Meeting on
Friday, Sept. 25, 2009. The webcast will be archived starting at
4:30 p.m. EDT on Friday, Sept. 25, and can be accessed at
http://investor.conagrafoods.com.
Note on Forward-looking Statements:
This release contains forward-looking statements. These
statements are based on management’s current views and assumptions
of future events and financial performance and are subject to
uncertainty and changes in circumstances. The company undertakes no
responsibility for updating these statements. Readers of this
release should understand that these statements are not guarantees
of performance or results. Many factors could affect the company’s
actual financial results and cause them to vary materially from the
expectations contained in the forward-looking statements. These
factors include, among other things: availability and prices of raw
materials; the impact of the accident at the Garner manufacturing
facility, including the ultimate costs incurred and the amounts
received under insurance policies; product pricing; future economic
circumstances; industry conditions; the company’s ability to
execute its operating plans; the success of the company’s
innovation, marketing, and cost-savings initiatives; the
competitive environment and related market conditions; operating
efficiencies; the ultimate impact of the company’s recalls; access
to capital; actions of governments and regulatory factors affecting
the company’s businesses and other risks described in the company’s
reports filed with the Securities and Exchange Commission. The
company cautions readers not to place undue reliance on any
forward-looking statements included in this release, which speak
only as of the date made.
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