MERRIAM, Kan., Feb. 21, 2018 /PRNewswire/ -- The following is a
report of earnings for Seaboard Corporation (NYSE American symbol:
SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three and twelve
months ended December 31, 2017 and
December 31, 2016, in millions of dollars except share
and per share amounts.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
Net sales
|
|
$
|
1,586
|
|
$
|
1,373
|
|
$
|
5,809
|
|
$
|
5,379
|
|
Net earnings
attributable to Seaboard
|
|
$
|
23
|
|
$
|
103
|
|
$
|
247
|
|
$
|
312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common
share
|
|
$
|
19.38
|
|
$
|
87.83
|
|
$
|
211.01
|
|
$
|
266.50
|
|
Average number of
shares outstanding
|
|
|
1,170,550
|
|
|
1,170,550
|
|
|
1,170,550
|
|
|
1,170,550
|
|
Dividends declared
per common share
|
|
$
|
1.50
|
|
$
|
—
|
|
$
|
6.00
|
|
$
|
—
|
|
Notes to Report of Earnings and Dividend Declaration:
In the fourth quarter of 2017, Seaboard Corporation recorded
$65 million of additional income tax
expense, or $55.31 per common share,
as a result of the December 22, 2017
enactment of the Tax Cuts and Job Act. The additional income tax
expense includes a provisional $112
million of additional federal tax, payable over eight years,
associated with the mandatory deemed repatriation of permanently
invested foreign profits, offset by an estimated reduction in
deferred taxes resulting from the rate decrease from 35% to
21%.
Also, Seaboard Corporation announced today that its Board of
Directors has authorized and declared a quarterly cash dividend
of $1.50 per share of its common stock. The dividend is
payable on March 15, 2018, to
stockholders of record at the close of business on March 5, 2018.
Seaboard Corporation today filed its Annual Report on Form 10-K
with the United States Securities and Exchange Commission. Seaboard
has provided access to the Annual Report on Form 10-K on its
website at https://www.seaboardcorp.com/investors.
View original
content:http://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-300602336.html
SOURCE Seaboard Corporation