Seaboard Corporation Report Of Earnings And Dividend Declaration
Seaboard Corporation reported its earnings for the year ended December 31, 2020. The company achieved net sales of $1,990 million for Q4 2020, up from $1,812 million in Q4 2019. Annual net sales were $7,126 million compared to $6,840 million in 2019. Net earnings attributable to Seaboard rose to $259 million in Q4 2020, compared to $173 million for the same period last year. EPS increased to $222.52 from $148.75. The Board of Directors declared a quarterly dividend of $2.25 per share, payable on March 8, 2021.
- Q4 2020 net sales increased to $1,990 million from $1,812 million in Q4 2019.
- Annual net sales rose to $7,126 million from $6,840 million in 2019.
- Net earnings attributable to Seaboard increased to $259 million in Q4 2020 from $173 million in Q4 2019.
- Earnings per share (EPS) grew to $222.52 from $148.75 year-over-year.
- Declared a quarterly cash dividend of $2.25 per share.
- Other investment income decreased from $225 million in 2019 to $84 million in 2020.
MERRIAM, Kan., Feb. 16, 2021 /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American: SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three and twelve months ended December 31, 2020 and December 31, 2019, in millions of dollars except share and per share amounts.
Three Months Ended | Twelve Months Ended | ||||||||||||
ADJUSTED | ADJUSTED | ||||||||||||
December 31, | December 31, | December 31, | December 31, | ||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||
Net sales | $ | 1,990 | $ | 1,812 | $ | 7,126 | $ | 6,840 | |||||
Net earnings attributable to Seaboard | $ | 259 | $ | 173 | $ | 283 | $ | 287 | |||||
Earnings per common share | $ | 222.52 | $ | 148.75 | $ | 244.21 | $ | 246.62 | |||||
Average number of shares outstanding | 1,160,779 | 1,164,848 | 1,161,526 | 1,165,758 | |||||||||
Dividends declared per common share | $ | 2.25 | $ | 2.25 | $ | 9.00 | $ | 9.00 | |||||
Notes to Report of Earnings:
Prior period financial information included in this Current Report on Form 8-K has been adjusted for the effect of a change in method in accounting for inventory in the Pork segment. During the fourth quarter of 2020, Seaboard elected to change its method for valuing hogs, fresh pork and other inventories from the last-in, first-out ("LIFO") method to the first-in, first-out ("FIFO") method.
Capital market volatility on short-term investments has an impact on Seaboard's earnings. For the three and twelve months ended December 31, 2020, net earnings attributable to Seaboard Corporation included other investment income of
Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of
Seaboard Corporation today filed its Annual Report on Form 10-K with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Annual Report on Form 10-K on its website at https://www.seaboardcorp.com/investors.
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SOURCE Seaboard Corporation
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