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Sanderson Farms, Inc. Announces Increase in Quarterly Dividend

  //house-home.news-articles.net/content/2010/09/2 .. nc-announces-increase-in-quarterly-dividend.html
  Published in House and Home on Thursday, September 23rd 2010 at 9:41 GMT by Market Wire
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LAUREL, Miss.--([ BUSINESS WIRE ])--Sanderson Farms, Inc. (NASDAQ:SAFM) today announcedthat its Board of Directors has declared a regular cash quarterly dividend of $0.17(seventeen cents) per share payable October 19, 2010, to stockholders of record on October5, 2010. This represents a new annual dividend rate of $0.68 (sixty-eight cents) per share. Payment of the regular quarterly dividend will remain subject to Board approval each quarter.

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

aThe Boarda™s decision to increase our dividend rate reflects Sanderson Farmsa™ solid operatingperformance in fiscal 2010, the Company's strong financial position, and our confidence inthe future,a commented Joe F. Sanderson, Jr., president and chief executive officer of SandersonFarms. aOur consistent growth and solid execution of our operating strategy provide uswith confidence in the future of Sanderson Farms. We are pleased to be in a position to allow theBoard to take these actions and provide this opportunity to reward our shareholders.a

Sanderson Farms, Inc. is engaged in the production, processing, marketing and distributionof fresh and frozen chicken and other prepared food items. Its shares trade on the NASDAQ GlobalSelect Market under the symbol SAFM.

This press release includes forward-looking statements within the meaning of the asafe harbora provisions of the Private Securities Litigation Reform Act of 1995, as amended.Forward-looking statements are based on a number of assumptions about future events and aresubject to various risks, uncertainties and other factors that may cause actual results to differmaterially from the views, beliefs, projections and estimates expressed in such statements.These risks, uncertainties and other factors include, but are not limited to those discussed under aRisk Factorsa in the Companya™s Quarterly Reports on Form 10-Q for the quartersended April 30, 2010 and July 31, 2010, and the following:

(1)Changes in the market price for the Companya™s finished products and feed grains, both of whichmay fluctuate substantially and exhibit cyclical characteristics typically associated with commodity markets.

(2)Changes in economic and business conditions, monetary and fiscal policies or the amount of growth, stagnation or recession in the global or U.S. economies, either of which may affect the value of inventories, the collectability of accounts receivable or thefinancial integrity of customers, and the ability of the end user or consumer to affordprotein.

(3)Changes in the political or economic climate, trade policies, laws and regulations or the domestic poultry industry of countries to which the Company or other companies in thepoultry industry ship product, and other changes that might limit the Companya™s or the industrya™s access to foreign markets.

(4)Changes in laws, regulations, and other activities in government agencies and similarorganizations applicable to the Company and the poultry industry and changesinlaws, regulations and other activities in government agencies and similar organizationsrelated to food safety.

(5)Various inventory risks due to changes in market conditions.

(6)Changes in and effects of competition, which is significant in all markets in which the Companycompetes, and the effectiveness of marketing and advertising programs. The Company competes with regional and national firms, some of which have greater financial and marketingresources than the Company.

(7)Changes in accounting policies and practices adopted voluntarily by the Company orrequired to be adopted by accounting principles generally accepted in the UnitedStates.

(8)Disease outbreaks affecting the production performance and/or marketability of the Companya™spoultry products, or the contamination of its products.

(9)Changes in the availability and cost of labor and growers.

(10)The loss of any of the Companya™s major customers.

(11)Inclement weather that could hurt Company flocks or otherwise adversely affect itsoperations,or changes in global weather patterns that could impact the supply of feedgrains.

(12)Failure to respond to changing consumer preferences.

(13)Failure to successfully and efficiently start up and run a new plant or integrate any business theCompany might acquire.

Readers are cautioned not to place undue reliance on forward-looking statements made byor on behalf of Sanderson Farms. Each such statement speaks only as of the day it was made.The Company undertakes no obligation to update or to revise any forward-looking statements. The factors described above cannot be controlled by the Company. When used in thispress release, the words abelievesa, aestimatesa, aplansa, aexpectsa, ashoulda, aoutlooka, andaanticipatesa and similar expressions as they relate to the Company or its management areintended to identify forward-looking statements.Examples of forward-looking statements includestatements of the Companya™s belief about future earnings.