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MP Materials Corp. (NYSE: MP) will join the S&P MidCap 400 index effective July 27, 2022, as part of a change following the acquisition of Sanderson Farms Inc. (NASDAQ: SAFM) by Cargill and Continental Grain. This addition highlights MP's growing significance in the materials sector. Sanderson Farms will be removed from the index, impacting its stock listings. Such index inclusions typically provide increased visibility and can positively influence stock performance due to heightened investor interest.
Cargill and Continental Grain Company have successfully completed their acquisition of Sanderson Farms (NASDAQ: SAFM) for $203 per share. This acquisition, first announced on August 9, 2021, results in Sanderson Farms no longer trading on NASDAQ as of July 22, 2022. The new entity, Wayne-Sanderson Farms, combines Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, and will operate from Oakwood, GA, under the leadership of Clint Rivers as CEO. This merger aims to leverage complementary operations and enhance product quality and affordability.
Sanderson Farms, Inc. (NASDAQ: SAFM) has declared a quarterly cash dividend of $0.44 per share, payable on May 17, 2022, to stockholders of record as of May 3, 2022. This dividend reflects the company's commitment to returning value to its shareholders. Sanderson Farms is involved in the production, processing, marketing, and distribution of chicken products, ensuring robust operations in the poultry sector.
Sanderson Farms has declared a regular quarterly cash dividend of
Sanderson Farms (NASDAQ: SAFM) announced that Fred L. Banks, Jr. will retire from its Board of Directors after the 2022 annual shareholders' meeting. Banks has served as an independent board member since 2007, contributing valuable legal insights, particularly in governance and diversity initiatives. His tenure included roles in various committees, enhancing long-term shareholder value. Banks, a seasoned attorney and former Mississippi Supreme Court Justice, has been influential in promoting legal aid and diversity in Mississippi. His retirement marks the end of a significant era for the company.
Wayne Farms LLC has finalized the sale of its Fresh Processing Complex in Laurel, Mississippi, to Amick Farms as of October 17, 2021. This divestiture is part of a larger transaction that aims to merge Wayne Farms with Sanderson Farms, under the joint ownership of Cargill and Continental Grain. The deal is anticipated to close by the end of 2021 or early 2022. Amick Farms will continue operations at the Laurel facility, maintaining its workforce and community ties. The transaction received stockholder approval from Sanderson Farms on October 21, 2021.
Sanderson Farms' stockholders approved a joint venture with Cargill and Continental Grain, acquiring the company for $203 per share in cash. Over 86% of outstanding shares voted in favor, with about 87% participating in the special meeting. The transaction will combine Sanderson Farms with Wayne Farms to form a new poultry business. Expected closure is in Q4 2021 or Q1 2022, pending regulatory approvals.
Sanderson Farms, Inc. (NASDAQ: SAFM) has declared a quarterly cash dividend of $0.44 per share. This dividend will be paid on October 19, 2021, to stockholders on record as of October 5, 2021. The company is involved in the production, processing, marketing, and distribution of chicken products. With the history of maintaining dividends, this announcement aims to reassure investors and highlight the company's ongoing commitment to return value to its shareholders.
Sanderson Farms (NASDAQ: SAFM) has provided an operational update following Hurricane Ida, stating no injuries to employees and minimal structural damage. All facilities are operational except for Hammond, LA, and McComb, MS, which are using generators. The company has maintained its poultry inventory with no significant bird loss. Production is expected to resume soon, including operations over the holiday weekend. The firm expressed gratitude for local support and indicated plans to assist affected communities.
Sanderson Farms (NASDAQ: SAFM) reported a strong Q3 fiscal 2021, achieving $1,352.8 million in net sales, up from $956.5 million a year prior. Net income soared to $164.8 million, or $7.38 per share, compared to $32.8 million, or $1.48 per share, in Q3 2020. For the first nine months, net sales reached $3,395.9 million and net income totaled $271.2 million, or $12.14 per share. Improved demand from food service and retail customers bolstered results, despite a 45.8% rise in feed costs.
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