Pilgrim's Pride Corporation’s board of directors has approved the payment of extraordinary dividends in the amount of $5.77 per share, announced JBS SA, the parent company of Pilgrim’s. The dividends approved amount to approximately $1.5 billion.
The dividends will be paid on February 17 to the shareholders registered in January 30, 2015. From this amount, JBS USA Holdings, owner of 75 percent of Pilgrim's capital stock, will receive approximately the gross value of $1.13 billion, to be used for general corporate purposes.
The dividends announced by JBS and Pilgrim’s demonstrate the company's commitment to the strategy of generating value to its shareholders while improving its capital structure, focusing on operational excellence and increasing its exposure to value added products and brands.
"Three years ago our company initiated a strategy to create shareholder value and improve capital structure by partnering with key customers, relentlessly pursuing operational excellence and growing our value added exports. The board's decision to approve the special dividend payments is a testament to this strategy, our financial discipline and our confidence in the future. We will continue on our path to generate shareholder value with an improved capital structure while maintaining the flexibility to pursue our growth strategy," stated Bill Lovette, Pilgrim's CEO.