The American grain group Archer Daniels Midland Company (ISIN: US0394831020, NYSE: ADM) increased the quarterly dividend by 12.5 percent to 45 US cents per share (previous quarter: 40 US cents), as announced on Thursday. The distribution will take place on March 2, 2023 (record day: February 9, 2023). It’s the 365th consecutive quarterly dividend the company is paying. Dividends have been distributed for a total of 91 years.
The company, based in Decatur, Illinois, pays out $1.80 to shareholders on an annualized basis. At the current stock price of USD 84.92 (as of January 26, 2023), this corresponds to a dividend yield of 2.12 percent. According to the company, the dividend will be increased for the 50th year in a row.
ADM generated revenue of $26.23 billion in the fourth quarter of fiscal 2022, up from $23.09 billion a year earlier, also announced on Thursday. Revenue was $1.02 billion, up from $782 million a year earlier.
Archer Daniels Midland’s origins date back to 1902. Today, the group employs around 41,000 people. Grains and oilseeds are processed and used in food, beverages or industrial products. ADM is also a producer of biodiesel in Germany and in Europe.
The stock is down 8.54 percent on Wall Street year-to-date on current year-to-date basis and has a current market cap of $47.01 billion (as of January 26, 2023).
Editorial team MyDividends.de
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