Archer Daniels Midland Hikes Quarterly Dividend By 7% - Quick Facts

(RTTNews) - While reporting its financial results for the fourth quarter today, grain processor Archer Daniels Midland Co. (ADM) said its board of directors has declared a quarterly cash dividend of $0.30 per share, an increase of more than 7 percent from the prior quarterly rate. This will result in estimated annual dividend payments of $700 million in 2016.

The dividend is payable on March 8, 2016, to shareholders of record at the close of business on February 16, 2016. As of December 31, 2015, there were 595.33 million shares of ADM common stock outstanding.

Juan Luciano, ADM chairman and CEO said, "In 2016, our balanced capital allocation framework remains a priority, including a quarterly dividend rate increase of 7 percent to $0.30 per share, and share repurchases of between $1.0 billion and $1.5 billion, subject to strategic capital requirements. With a strong balance sheet, we will also remain opportunistic for investments, especially bolt-ons, in this more challenged macro environment."