Pilgrim’s Announces $1.5 Billion Special Dividend and Long-term Capital Allocation Strategy

Pilgrim’s Pride Corporation, one of the world’s leading food companies, recently announced a capital deployment strategy in support of its ongoing efforts to improve its capital structure, enhance its diversified portfolio, stimulate brand growth, and generate shareholder value.

As a part of the strategy, the company’s board of directors has approved the declaration of a special cash dividend of $6.30 per share. The total amount of the special dividend payment will be approximately $1.5 billion, based on the current number of shares outstanding.

“Pilgrim’s is confident in the future of our business and we believe our capital allocation strategy positions the company for continued, disciplined growth and enhanced earnings potential across our diversified portfolio,” said Fabio Sandri, CEO of Pilgrim’s. “The Board’s decision to pay a special dividend reflects our strong balance sheet and our commitment to create long-term stockholder value. Today’s announcement is a testament to our team’s ability to execute our key customer strategy, unlock value through differentiated offerings, and relentlessly pursue quality and service.”

In addition to the special dividend, the company is outlining the ways it is strengthening its portfolio, aligning with key customers and growing organically in the US market. In the coming years, projects will include expanding in prepared foods due to brand growth; adding small bird capacity to support key customer growth; converting a big bird plant to a case-ready facility for continued growth in retail; and expanding protein conversion capacity to upgrade the portfolio and reduce risk. With today’s dividend announcement, over the last five years, Pilgrim’s has invested more than $950 million in acquisitions, $1.8 billion in share repurchases and dividends, and $2.2 billion in capital expenditures.

During the investor day event, the Pilgrim’s leadership team will discuss its capital allocation strategy, growing momentum in branded offerings across its portfolio, and future growth plans.

Axiota Animal Health Announces FDA Approval of Multimin 90

Trace minerals are essential for key functions in the body. While a dietary mineral program is key for cattle health, even the best oral programs face challenges. Variation in intake, antagonists, poor digestibility, and changes in demand can result in uneven trace mineral status in the herd. The most effective trace mineral programs address these challenges by incorporating strategic supplementation that ensures even treatment across the herd. Cattle that are fully supplemented are more prepared for periods of transition and stress.

Multimin 90 is the only FDA-approved drug that contains four trace minerals known to support cattle health. Its subcutaneous injectable format for supplementation results in a significant rise in levels of zinc, copper, manganese, and selenium in the blood within eight to ten hours of injection and liver storage within 24 hours. Multimin 90 complements oral trace mineral programs and is a safe and effective option to strategically supplement four key trace minerals.

William (Bill) Weldon, Axiota Chief Executive Officer, said “The approval of Multimin 90 as a new animal drug confirms that the product veterinarians and beef and dairy producers have relied on since 2010 meets the highest standards of quality, safety, and efficacy for animal health products. Taking the additional steps to secure FDA approval is a testament to Axiota’s continued commitment to provide a reliable and high-quality supply of trusted, proven products to cattle producers.”

The United States joins more than 30 other countries where Multimin 90 is approved, including several countries in key cattle-producing areas of Europe, North America, and Latin America. .