The J.M. Smucker Co. Declares Dividend and Authorizes Additional Shares for Future Repurchase
The J.M. Smucker Co. (SJM) has declared a $0.99 per share dividend, set to be paid on December 1, 2021, to shareholders of record by November 12, 2021. Additionally, the Board approved a 5 million share increase in its repurchase authorization, bringing the total to approximately 7.8 million shares available for buyback. Future repurchases will depend on management's discretion. This move is aimed at enhancing shareholder value, although no guarantees about the exact number of repurchased shares are made.
- Dividend of $0.99 per share enhances shareholder returns.
- Increase in share repurchase authorization by 5 million shares to total 7.8 million may positively impact stock price.
- None.
ORRVILLE, Ohio, Oct. 22, 2021 /PRNewswire/ -- The J.M. Smucker Co. (NYSE: SJM) today announced its Board of Directors approved a
In other actions, the Board of Directors increased the Company's share repurchase authorization by 5 million common shares. Therefore, the Company has a total of approximately 7.8 million common shares available for repurchase under authorizations by its Board of Directors. Future share repurchases will occur at management's discretion, and there is no guarantee as to the exact number of shares that will be repurchased.
The J.M. Smucker Co. Forward-Looking Statements
This press release contains a forward-looking statement about share repurchases. This statement is made on the basis of the Company's views and assumptions as of this time, and the Company undertakes no obligation to update this statement unless required by law. This statement is not a guarantee of future performance, and actual events or results may differ materially from this statement. Investors should consult the Company's filings with the Securities and Exchange Commission (including the information set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the 2021 fiscal year ended April 30, 2021) for information about certain factors that could cause such differences. Copies of these filings may be obtained by visiting the Company's website at jmsmucker.com.
About The J.M. Smucker Co.
Each generation of consumers leaves their mark on culture by establishing new expectations for food and the companies that make it. At The J.M. Smucker Co., it is our privilege to be at the heart of this dynamic with a diverse portfolio that appeals to each generation of people and pets and is found in nearly 90 percent of U.S. homes and countless restaurants. This includes a mix of iconic brands consumers have always loved such as Folgers®, Jif® and Milk-Bone® and new favorites like Café Bustelo®, Smucker's® Uncrustables® and Rachael Ray® Nutrish®. By continuing to immerse ourselves in consumer preferences and acting responsibly, we will continue growing our business and the positive impact we have on society. For more information, please visit jmsmucker.com.
The J.M. Smucker Co. is the owner of all trademarks referenced herein except for Rachael Ray®, a registered trademark of Ray Marks II LLC, which is used under license.
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SOURCE The J.M. Smucker Co.
FAQ
What is the dividend amount declared by J.M. Smucker Co. for December 2021?
When will J.M. Smucker Co. pay the declared dividend?
What is the new total for the share repurchase authorization for SJM?
When is the record date for the dividend to be paid by J.M. Smucker Co.?
Will J.M. Smucker Co. guarantee the number of shares repurchased in the future?
