Archer Daniels Midland Company
) has increased its quarterly dividend by 8.6% to 19 cents per
share from its earlier payout of 17.5 cents per share. As a
result of this revision, the company's annualized dividend stands
at 76 cents per share.
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The increased dividend, which is the 325th successive quarterly
payout, will be paid on Mar 13, 2013, to stockholders of record
as of Feb 20, 2013. The dividend yield based on the new payout
and the last closing market price is approximately 2.5%.
Archer Daniels has been increasing dividend every year since
2002. Starting from 5 cents in 2000, the quarterly dividend
payout has now increased nearly four times to the current level
of 19 cents. The current dividend hike comes after 5 quarters.
The last dividend hike of 1.5 cents or 9.4% from 16 cents was
announced on Nov 15, 2011.
It is evident from the company's history of dividend payment that
it is always on the lookout for maximizing shareholders' wealth.
The news of the dividend hike comes immediately after the
company's strong second quarter 2013 results that were reported
earlier this week. Archer Daniels reported earnings of 60 cents
per share, up 17.6% from the year-ago quarter and beating the
Zacks Consensus Estimate by a penny. Net sales increased 6.9%
year over year to $24,921 million, significantly above the Zacks
Consensus Estimate of $21,957 million.
The outperformance was mainly attributable to improved
performances at Oilseeds and Agricultural Services segments,
partially offset by weak results at the company's Corn Processing
Cash and cash equivalents were $1,714 million as of Dec 31, 2012,
up substantially from $864 million as of Dec 31, 2011. Long-term
debt, excluding the current portion, amounted to $6,724 million
as of Dec 31, 2012, compared with $8,364 million as of Dec 31,
2011. Shareholder's equity as of Dec 31, 2012 was $19,131
Other companies, which recently increased dividend, include
Family Dollar Stores Inc.
), by 23.8% to 26 cents,
The McGraw-Hill Companies Inc.
) by 9.8% to 28 cents, and
) by 15% to 23 cents.