Corn Products International, Inc. Increases Quarterly Dividend by 16.7 Percent; Company Announces Two-For-One Stock Split
December 01 2004 - 1:23PM
PR Newswire (US)
Corn Products International, Inc. Increases Quarterly Dividend by
16.7 Percent; Company Announces Two-For-One Stock Split
WESTCHESTER, Ill., Dec. 1 /PRNewswire-FirstCall/ -- The board of
directors of Corn Products International, Inc. (NYSE:CPO) today
declared an increased quarterly dividend of $0.14 per share, up
from $0.12 per share, on the Company's common stock. The dividend
is payable January 25, 2005, to stockholders of record at the close
of business on January 4, 2005. As of November 30, 2004, the
Company had approximately 37.2 million shares outstanding. Also
today, Corn Products International's board of directors created a
two-for-one split of the Company's common stock by declaring a
100-percent stock dividend on the Company's common stock. The
100-percent stock dividend is payable January 25, 2005, to
stockholders of record at the close of business on January 4, 2005.
Corn Products International, Inc. is one of the world's largest
corn refiners and a major supplier of high-quality food ingredients
and industrial products derived from the wet milling and processing
of corn and other starch- based materials. The Company is the
number-one worldwide producer of dextrose and a leading regional
producer of starch, high fructose corn syrup and glucose. In 2003,
the Company recorded net sales of $2.1 billion with operations in
19 countries at 37 plants, including wholly owned businesses,
affiliates and alliances. Headquartered in Westchester, Ill., it
was founded in 1906. The Company is listed on the New York Stock
Exchange under the symbol CPO. Additional information can be found
on the World Wide Web at http://www.cornproducts.com/ . This
release contains or may contain forward-looking statements
concerning the Company's financial position, business and future
earnings and prospects, in addition to other statements using words
such as "anticipate," "believe," "plan," "estimate," "expect,"
"intend" and other similar expressions. These statements contain
certain inherent risks and uncertainties. Although we believe our
expectations reflected in these forward-looking statements are
based on reasonable assumptions, stockholders are cautioned that no
assurance can be given that our expectations will prove correct.
Actual results and developments may differ materially from the
expectations conveyed in these statements, based on various
factors, including fluctuations in worldwide commodities markets
and the associated risks of hedging against such fluctuations;
fluctuations in aggregate industry supply and market demand;
general political, economic, business, market and weather
conditions in the various geographic regions and countries in which
we manufacture and/or sell our products, including fluctuations in
the value of local currencies, energy costs and availability and
changes in regulatory controls regarding quotas, tariffs, taxes and
income tax rates; labor disputes; biotechnology issues; changing
consumption preferences and trends; increased competitive and/or
customer pressure in the corn-refining industry; the outbreak or
continuation of hostilities including acts of terrorism; stock
market fluctuation and volatility; and the resolution of the
current uncertainties resulting from the Mexican HFCS tax. Our
forward-looking statements speak only as of the date on which they
are made and we do not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of the statement. If we do update or correct one or more
of these statements, investors and others should not conclude that
we will make additional updates or corrections. For a further
description of risk factors, see the Company's most recently filed
Annual Report on Form 10-K and subsequent reports on Forms 10-Q or
8-K. DATASOURCE: Corn Products International, Inc. CONTACT:
Investors, Richard M. Vandervoort, +1-708-551-2595, or Media, Mark
Lindley, +1-708-551-2602, both of Corn Products International Web
site: http://www.cornproducts.com/
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