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Sanderson Farms, Inc. (NASDAQ: SAFM) will release its third quarter fiscal 2021 financial results on August 26, 2021, before market open, without a conference call for analysts. Additionally, the annual investor conference scheduled for October 15, 2021, has been canceled. In a significant development, a joint venture between Cargill and Continental Grain has agreed to acquire Sanderson Farms for $203 per share in cash, indicating strong interest in the company's value and market position.
Cargill and Continental Grain Company have entered into a definitive agreement to acquire Sanderson Farms (NASDAQ: SAFM) for $203 per share, totaling $4.53 billion. This price reflects a 30.3% premium over Sanderson Farms' stock price prior to sale speculation. The joint venture will merge Sanderson Farms with Wayne Farms, creating a leading poultry business. The transaction, pending regulatory and stockholder approval, is expected to close by the end of 2021 or early 2022, and will result in Sanderson Farms becoming a private entity.
Sanderson Farms, Inc. (NASDAQ: SAFM) has declared a regular quarterly cash dividend of $0.44 per share, set to be paid on August 17, 2021. Stockholders of record as of August 3, 2021 will receive this dividend. Sanderson Farms is primarily involved in the production, processing, marketing, and distribution of chicken products, including fresh, frozen, and minimally prepared options. The company's shares are publicly traded on the NASDAQ Global Select Market.
Sanderson Farms (NASDAQ: SAFM) announced robust results for Q2 2021, reporting net sales of $1,133.9 million, a significant rise from $844.7 million the previous year. Net income surged to $96.9 million or $4.34 per share, compared to $6.1 million or $0.28 per share in Q2 2020. The first half of 2021 saw net sales of $2,043.2 million with a net income of $106.4 million. Despite challenges from winter storms and rising feed costs, improved poultry market conditions and consumer demand contributed to these positive results.
Sanderson Farms, Inc. (NASDAQ: SAFM) will host its Q2 fiscal 2021 earnings call on May 27, 2021, at 10:00 a.m. CT. The call will cover financial and operational results for the quarter ending April 30, 2021. Participants can join by calling 833-685-0982. A live broadcast will also be available, with a replay for 30 days on the company's website. Sanderson Farms is involved in the production, processing, and distribution of chicken products.
Sanderson Farms, Inc. (NASDAQ: SAFM) will participate in the BMO Capital Markets 16th Annual Farm to Market Conference on May 19-20, 2021, held virtually due to COVID-19. The presentation by CEO Joe F. Sanderson, Jr. and CFO Mike Cockrell is scheduled for 10:20 a.m. CT (11:20 a.m. ET) on May 19, 2021, and will be accessible via a live audio webcast. Investors can find the link on the company’s website, with a replay available for 30 days. Sanderson Farms specializes in the production, processing, and marketing of chicken products.
Sanderson Farms (NASDAQ: SAFM) announced its participation in the Goldman Sachs Global Staples Forum on May 18, 2021. This event will occur virtually due to the COVID-19 pandemic. The investor presentation by Joe F. Sanderson, Jr., chairman and CEO, along with Mike Cockrell, CFO, will start at 3:30 p.m. Eastern Time. Investors can access the live audio webcast through the company's website, with a replay available for 30 days.
Sanderson Farms, Inc. (NASDAQ: SAFM) has secured a new $1.0 billion revolving credit facility from a bank consortium, effective April 23, 2021, replacing its previous agreement. This facility, which remains unsecured, extends until April 23, 2026. As of the effective date, the company had $55.0 million in outstanding borrowings and $25.2 million in letters of credit under the old facility. The CEO expressed confidence in the new facility's role in supporting strategic initiatives and enhancing shareholder value.
Sanderson Farms has declared a quarterly cash dividend of $0.44 per share, payable on May 18, 2021, to shareholders on record as of May 4, 2021. This announcement underscores the company’s commitment to returning value to its investors while continuing its operations in the production, processing, marketing, and distribution of chicken products. The stock trades under the symbol SAFM on the NASDAQ Global Select Market.
Sanderson Farms (NASDAQ: SAFM) will participate in the virtual BofA Securities 2021 Consumer & Retail Technology Conference on March 9-10, 2021, due to COVID-19 restrictions.
The investor presentation, featuring CEO Joe Sanderson and CFO Mike Cockrell, is scheduled for March 9 at 11:30 a.m. ET and will be accessible via a live audio webcast. A link will be available in the investor relations section of Sanderson Farms' website, with a 30-day replay option.
Sanderson Farms specializes in the production and distribution of fresh, frozen, and minimally prepared chicken.
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