MERRIAM, Kan., April 27, 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
months ended March 28, 2020 and March 30, 2019,
in millions of dollars except share and per share amounts.
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Three Months
Ended
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|
|
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March 28,
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March 30,
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2020
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2019
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Net sales
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$
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1,683
|
|
$
|
1,543
|
|
Net earnings (loss)
attributable to Seaboard
|
|
$
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(103)
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$
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57
|
|
|
|
|
|
|
|
|
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Earnings (loss) per
common share
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$
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(88.43)
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$
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48.79
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|
Average number of
shares outstanding
|
|
|
1,163,888
|
|
|
1,167,430
|
|
Dividends declared
per common share
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|
$
|
2.25
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$
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2.25
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|
Notes to Report of Earnings:
Other than capital market volatility on short-term investments,
the effects of the COVID-19 pandemic were not significant on a
consolidated or segment basis to Seaboard Corporation's first
quarter 2020 results. However, the future impact of the COVID-19
pandemic is highly uncertain and cannot be predicted and there is
no assurance that the pandemic will not have a material adverse
impact on Seaboard Corporation's future results. The extent of the
impact will depend on future developments, including actions taken
to contain the pandemic.
For the three months ended March 28, 2020, and
March 30, 2019 net earnings (loss) attributable to
Seaboard Corporation included other investment income (loss) of
$(225) million and $113 million, respectively. Non-cash unrealized
mark-to-market losses on short-term investments was $(236) million for the three months ended
March 28, 2020.
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
May 18, 2020 to stockholders of
record at the close of business on May 7,
2020.
Seaboard Corporation today filed its Quarterly Report on Form
10-Q with the United States Securities and Exchange Commission.
Seaboard Corporation has provided access to the Quarterly Report on
Form 10-Q on its website at
https://www.seaboardcorp.com/investors.
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SOURCE Seaboard Corporation