Oil-Dri’s Board of Directors Declares Quarterly Dividends and Approves Two-for-One Stock Split
09 Ottobre 2024 - 10:12PM
The Board of Directors of Oil-Dri Corporation of America (NYSE:
ODC) today declared quarterly cash dividends of $0.31 per share of
the Company’s Common Stock and $0.233 per share of the Company’s
Class B Stock and approved a two-for-one stock split in the form of
a stock dividend.
The quarterly cash dividends will be payable on
November 22, 2024 to stockholders of record at the close of
business on November 8, 2024. Oil-Dri has paid cash dividends
continuously each year since 1974 and has increased dividends
annually for twenty-one consecutive years.
The stock split is subject to stockholder
approval of an amendment to the Company’s Certificate of
Incorporation to increase the number of authorized shares of Common
Stock to accommodate the stock split. The Company intends to seek
stockholder approval for this amendment at its upcoming annual
meeting on December 11, 2024.
If the Certificate of Incorporation amendment is
approved, the Company expects to file the amendment with the
Secretary of State of the State of Delaware and to implement the
stock split and authorized share increase promptly following the
annual meeting. Following stockholder approval and the filing and
effectiveness of the Certificate of Incorporation amendment,
stockholders of record at the close of business on December 20,
2024, the record date of the stock split, will receive one
additional share of Common Stock for every share of Common Stock
held on the record date, and one additional share of Class B Stock
for every share of Class B Stock held on the record date. Oil-Dri
expects the additional shares will be distributed after market
close on January 3, 2025. Shares of Oil-Dri’s Common Stock are
expected to begin trading on a post-split basis at market open on
January 6, 2025.
Daniel S. Jaffee, Chairman of the Board,
President and Chief Executive Officer stated, “Our decision to
implement this stock split reflects our desire to strengthen our
market position and enhance stockholder value. The trading
price of our Common Stock has doubled since October of 2022, and we
believe the enhanced liquidity resulting from the stock split will
make our shares more affordable and attractive to a broader
investor base. We are also pleased to reward our loyal stockholders
with quarterly cash dividends."
Stockholders are not required to take any action
in order to receive shares pursuant to the stock split, and the
book entry accounts of the stockholders of record will
automatically be credited with the additional shares representing
the stock split. If shares are held in a brokerage account, the
additional shares will be distributed to the broker on the
stockholder’s behalf. The stock split is being administered by the
Company’s transfer agent, Computershare Trust Company, N.A.
The Company’s press release outlining its
performance for the fourth quarter of fiscal year 2024 will be
issued after the close of the U.S. stock market on Thursday,
October 10, 2024. Oil-Dri will host an earnings discussion via a
live webcast on Friday, October 11, 2024 at 9:00 a.m. Central Time.
Participation details are available on the Company’s website’s
Events page.
About Oil-Dri Corporation of
AmericaOil-Dri Corporation of America (“Oil-Dri”) is a
leading manufacturer and supplier of specialty sorbent products for
the pet care, animal health and nutrition, fluids purification,
agricultural ingredients, sports field, industrial and automotive
markets. Oil-Dri is vertically integrated which enables the Company
to efficiently oversee every step of the process from research and
development to supply chain to marketing and sales. With over 80
years of experience, the Company continues to fulfill its mission
to Create Value from Sorbent Minerals. To learn more about the
Company, visit oildri.com.
Forward-Looking
StatementsCertain statements in this press release may
contain forward-looking statements, within the meaning of the safe
harbor provisions of the U.S. Private Securities Litigation Reform
Act of 1995, that are based on our current expectations, estimates,
forecasts and projections about our future performance, our
business, our beliefs and our management’s assumptions. In
addition, we, or others on our behalf, may make forward-looking
statements in other press releases or written statements, or in our
communications and discussions with investors and analysts in the
normal course of business through meetings, webcasts, phone calls
and conference calls. Forward-looking statements can be identified
by words such as “expect,” “outlook,” “forecast,” “would,” “could,”
“should,” “project,” “intend,” “plan,” “continue,” “believe,”
“seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,”
“strive,” and similar references to future periods.
Such statements are subject to certain risks,
uncertainties and assumptions that could cause actual results to
differ materially, including, but not limited to, those described
in our most recent Annual Report on Form 10-K and from time to time
in our other filings with the Securities and Exchange Commission.
Should one or more of these or other risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated,
intended, expected, believed, estimated, projected, planned or
otherwise expressed in any forward-looking statements. Investors
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Except to the extent required by law, we do not have any intention
or obligation to update publicly any forward-looking statements
after the distribution of this press release, whether as a result
of new information, future events, changes in assumptions, or
otherwise.
Contact:Leslie A. GarberDirector of Investor
RelationsOil-Dri Corporation of
AmericaInvestorRelations@oildri.com(312) 321-1515
Grafico Azioni Oil Dri Corp of America (NYSE:ODC)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Oil Dri Corp of America (NYSE:ODC)
Storico
Da Dic 2023 a Dic 2024