Sanderson Farms, Inc.
) recently announced an increase of roughly 17.6% in its
quarterly dividend rate. The move aimed to reward the
shareholders has been approved by the company's board of
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The new dividend rate has been fixed at 20 cents, an increase of
3 cents over the previous rate of 17 cents. Sanderson Farms'
revised annual dividend rate now stands at 80 cents per share.
The quarter rate will be paid on Oct 15, 2013 to shareholders of
record as on Oct 1, 2013.
In the first nine months ended Jul 31, 2013, Sanderson Farms paid
dividends totalling $7.8 million. The company follows a
consistent policy of rewarding its shareholders through quarterly
dividend payments, garnished at regular intervals.
In addition, Sanderson Farms announced to have received its board
of directors' approval to start construction of a new poultry
complex from Oct 1 in Palestine, Texas. The new complex will have
the processing capacity for 1.250 million heads of chicken per
week and will include a feed mill, hatchery, poultry processing
plant and waste water facility.
The Zacks Consensus Estimate for Sanderson Farms currently stands
at $6.04 for the fiscal year 2013 ending Oct 2013, reflecting an
increase of 156.9% year over year. Earnings estimate for fiscal
2014 is at $7.14, up 18.3% year over year.
Sanderson Farms is a fully integrated poultry processing company,
primarily engaged in the production, processing, marketing and
distribution of fresh and frozen chicken products. The company
currently has a $1.5 billion market capitalization.
Other stocks to watch out for in the industry are
Amira Nature Foods Ltd.
), with a Zacks Rank #1 (Strong Buy) while
Pilgrim's Pride Corporation
Tyson Foods, Inc.
), each come with a Zacks Rank #2 (Buy).