Archer Daniels Midland Co - ADM STOCK NEWS

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.

ADM announced its 2022 Annual Meeting of Stockholders will take place virtually on May 5, 2022, at 8:30 a.m. CDT, due to ongoing COVID-19 concerns. Stockholders are encouraged to vote using the 16-digit control number provided on their proxy materials. The meeting will not allow in-person attendance. Detailed information regarding this change can be found in the proxy supplement filed with the Securities and Exchange Commission on April 14, 2022.

ADM announced a $300 million investment to expand its soy protein concentrate production in Decatur, Illinois, nearly doubling extrusion capacity. This expansion includes the establishment of a new Protein Innovation Center aimed at enhancing product development in response to rising demand. The initiative is projected to be completed by Q1 2025 and will utilize advanced technologies for sustainable operations. The global alternative protein market is expected to grow significantly, with ADM's sales in this sector outpacing industry growth at a projected 10% CAGR.

ADM has announced the appointment of Vikram Luthar as the new Chief Financial Officer, effective immediately. Luthar, who joined ADM in 2004, has held various leadership positions and is recognized for his expertise in finance and strategic growth areas such as health and nutrition. He succeeds Ray G. Young, who served as CFO since 2010 and will now focus on strategic counsel as Vice Chairman. Chairman and CEO Juan Luciano expressed confidence in Luthar's ability to lead ADM into its next growth phase.

ADM is set to announce its financial results for Q1 2022 on April 26, 2022, before market opening. A slide presentation will be accessible for download at that time. Additionally, a webcast will take place at 8 a.m. Central Time to discuss the results and provide company updates. Stakeholders can access the webcast and the presentation via www.adm.com/webcast.

Ray G. Young has been appointed Vice Chairman of ADM, transitioning from his role as Chief Financial Officer as the company seeks a successor. Young will provide strategic guidance on key initiatives crucial for ADM's growth. Chairman and CEO Juan Luciano expressed gratitude for Young's contributions to ADM's transformation into a leader in sustainable nutrition. The company will start a search for a new CFO with both internal and external candidates to ensure a seamless transition.