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Solid Operating Performance from Sanderson Farms

by 5m Editor
24 September 2010, at 8:45a.m.

US - Sanderson Farms, Inc. has announced an increase in quarterly dividend due to its solid operating performance in this financial year.

Sanderson Farms, Inc. has announced that its Board of Directors has declared a regular cash quarterly dividend of $0.17 per share payable on 19 October 2010, to stockholders of record on 5 October 2010. This represents a new annual dividend rate of $0.68 per share. Payment of the regular quarterly dividend will remain subject to Board approval each quarter.

Joe F. Sanderson, Jr., president and chief executive officer of Sanderson Farms, commented: "The Board's decision to increase our dividend rate reflects Sanderson Farms' solid operating performance in fiscal 2010, the Company's strong financial position, and our confidence in the future.

"Our consistent growth and solid execution of our operating strategy provide us with confidence in the future of Sanderson Farms. We are pleased to be in a position to allow the Board to take these actions and provide this opportunity to reward our shareholders."