Pilgrim’s Pride announces $6.30 per share special cash dividend

Pilgrim’s Pride (PPC) 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 $1.5B, based on the current number of shares outstanding. The special cash dividend is payable on April 17 to stockholders of record on April 3. 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.