CHICAGO, March 12, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Oil-Dri Corporation of America (ODC) yesterday declared quarterly cash dividends of $0.24 per share of the Company’s Common Stock and $0.18 per share of the Company’s Class B Stock.
The dividends declared will be payable on May 31, 2019 to stockholders of record at the close of business on May 17, 2019. The Company has paid cash dividends continuously since 1974 and has increased dividends annually for fifteen consecutive years.
The Board of Directors also authorized the repurchase of 750,000 shares of Common Stock. A total of 296,277 shares of Common Stock and 300,000 shares of Class B Stock may yet be repurchased under previous authorizations from the Board of Directors.
Oil-Dri expects to release earnings for its third quarter of fiscal 2019 after the close of the U.S. stock market on Friday, June 7, 2019 and to host an Investor Teleconference on Monday, June 10, 2019. Teleconference details will be communicated via web alert and posted on the Events page of the Company’s website (investors.oildri.com/events) approximately one week prior to the call.
While Oil-Dri’s founding product was granular clay floor absorbents, it has since greatly diversified its portfolio. The Company’s mission to “Create Value from Sorbent Minerals” is supported by its wide array of consumer and business to business product offerings. In 2016, Oil-Dri celebrated its seventy-fifth year of business and looks forward to the next milestone. To learn more about the Company, visit oildri.com.
Reagan B. Culbertson
Investor Relations Manager