MERRIAM, Kan., Feb. 19, 2020 /PRNewswire/ -- The following is a
report of earnings for Seaboard Corporation (NYSE American: SEB)
with offices at 9000 West 67th Street, Merriam, Kansas, for the three and twelve
months ended December 31, 2019 and
December 31, 2018, in millions of dollars except share
and per share amounts.
|
|
Three Months
Ended
|
|
Twelve Months
Ended
|
|
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
December
31,
|
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
Net sales
|
|
$
|
1,812
|
|
$
|
1,662
|
|
$
|
6,840
|
|
$
|
6,583
|
|
|
Net earnings (loss)
attributable to Seaboard
|
|
$
|
175
|
|
$
|
(91)
|
|
$
|
283
|
|
$
|
(17)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
common share
|
|
$
|
149.91
|
|
$
|
(77.58)
|
|
$
|
242.78
|
|
$
|
(14.61)
|
|
|
Average number of
shares outstanding
|
|
|
1,164,848
|
|
|
1,170,359
|
|
|
1,165,758
|
|
|
1,170,501
|
|
|
Dividends declared
per common share
|
|
$
|
2.25
|
|
$
|
1.50
|
|
$
|
9.00
|
|
$
|
6.00
|
|
Notes to Report of Earnings:
In December 2019, the President of
the United States signed into law
the Further Consolidated Appropriations Act (the "2019 Tax Act")
that extended the federal blender's credits through 2022, with
retroactive recognition for 2018 and 2019. As a result, Seaboard
Corporation's Pork segment recognized approximately $60 million, or $51.10 per common share, of revenue in the fourth
quarter of 2019 for the biodiesel it blends. There was no tax
expense on this transaction.
For the three and twelve months ended
December 31, 2019, net earnings attributable to Seaboard
Corporation included other investment income of $73 million and $225
million, respectively. For the three and twelve months ended
December 31, 2018, net loss attributable to Seaboard
Corporation included other investment loss of $167 million and $152
million, respectively.
Seaboard Corporation announced today that its Board of Directors
has authorized and declared a quarterly cash dividend of $2.25
per share of its common stock. The dividend is payable on
March 12, 2020 to stockholders of
record at the close of business on March 2,
2020.
Seaboard Corporation today filed its Annual Report on Form 10-K
with the United States Securities and Exchange Commission. Seaboard
Corporation 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-301007961.html
SOURCE Seaboard Corporation