Archer Daniels Midland Company - ADM STOCK NEWS

ADM has appointed Ron Bandler as Vice President and Treasurer, succeeding John Stott, who has moved to President of ADM Investor Services, Inc. Bandler brings over 32 years of experience within ADM, previously serving as Assistant Treasurer overseeing critical financial operations including foreign exchange and debt capital management. He holds a master's degree in international management from Thunderbird School of Global Management and a bachelor's degree in business from the University of Arizona.

ADM plans to significantly expand starch production at its Marshall, Minnesota facility to meet rising demand from food and beverage sectors. This investment supports the ongoing growth of the company's BioSolutions platform, which has already generated $100 million in new annual revenue in 2021 and an additional $55 million in 2022. The project, set for completion in the second half of 2023, reflects ADM's commitment to sustainability and food security, adapting to evolving market needs.

AM Best has withdrawn the Financial Strength Rating (FSR) of A- and Long-Term Issuer Credit Rating of 'a-' for ADM Insurance Company, following its sale to a non-affiliated entity. Meanwhile, Agrinational Insurance Company retains its FSR and Long-Term ICR of A- and 'a-' with a stable outlook. The ratings indicate strong balance sheet strength and adequate operational performance, despite lower premium volumes since the sale of its subsidiary, ADM Crop Risk Services, in 2017. Agrinational primarily insures risks for affiliated entities and benefits from support from its parent company, Archer Daniels Midland.

ADM (NYSE: ADM) will participate in the 17th annual BMO Capital Markets Farm to Market Conference in New York City on May 18. Chairman and CEO Juan Luciano, along with CFO Vikram Luthar, will discuss the company’s strategic progress and growth opportunities. The event will be broadcast live at 9:30 a.m. Eastern time, with a replay available for a limited time. ADM is recognized for its efforts in sustainability, nutrition solutions, and innovative product development aimed at enhancing food security and supporting healthier living.

ADM's Board has declared a cash dividend of 40 cents per share, with a payment date set for June 8, 2022. Shareholders on record by May 18, 2022 will benefit from this payout. This dividend marks ADM's 362nd consecutive quarterly payment, showcasing a remarkable milestone of 90 years in uninterrupted dividend history. As of March 31, 2022, ADM had 562,606,668 shares of common stock outstanding, underlining the company's commitment to returning value to shareholders.

ADM has appointed John Stott as the new president of ADM Investor Services, Inc. (ADMIS), effective July 1, 2022. Stott succeeds Tom Kadlec, who is retiring after nearly 32 years with ADM. Stott, who has been with ADM for almost 30 years in various leadership roles, will steer ADMIS moving forward. ADM highlighted Stott's extensive experience and strong relationships within the industry as assets for his new role. The transition reflects a commitment to growth and leadership within the organization.

ADM reported first-quarter 2022 net earnings of approximately $1.1 billion and adjusted earnings per share (EPS) of $1.90, up from $1.39 a year earlier. The firm attributed these results to robust demand, effective risk management, and a tighter supply environment, particularly due to a smaller South American crop. Segment operating profit reached $1.539 billion, a notable increase from $1.105 billion. The company anticipates continued tightness in global grain markets due to various crop disruptions, projecting 2022 results to exceed those of 2021.