DuPont Says its Seed Business is Booming (DD)


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Chemicals and agricultural products maker DuPont Company ( DD ) on Tuesday said its seed business, Pioneer Hi-Bred, is seeing strong early financial results as a result of improving volume and pricing.

The company made the announcement at the Deutsche Bank Global Industrials and Basic Materials Conference. Pioneer Hi-Bred president Paul Schickler commented, "Strong customer demand in North America for our newest corn hybrids and Optimum AcreMax 1 system coupled with a smooth integration of the PROaccess(SM) business are key sales growth drivers in 2011."

Continuing, Shickler said "The fundamentals of agriculture remain solid. Last December, DuPont announced its expectations for sales and pre-tax operating margin growth through 2015 for the Agriculture & Nutrition reporting segment, which included the seed, crop protection and nutrition and health businesses. Those expectations remain unchanged as these businesses, in the aggregate, are expected to deliver sales at a compounded annual growth rate of 8 to 10 percent from 2010-15 and increase pre-tax operating margins in the range of 19 to 21 percent in the same time period."

DuPont shares rose 85 cents, or +1.7%, in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of DuPont ( DD ) since Apr.27, when the stock was trading at $55.06. The company has a 3.31% dividend yield, based on last night's closing stock price of $55.06.

DuPont Company ( DD ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.6 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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