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Seaboard (SEB)

Filed: 30 Oct 19, 4:33pm

Exhibit 99.1

 

PRESS RELEASE

REPORT OF EARNINGS AND DIVIDEND DECLARATION

 

October 30, 2019 

Merriam, Kansas

 

The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three and nine months ended September 28, 2019 and September 29, 2018, in millions of dollars except share and per share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 28,

 

September 29,

 

September 28,

 

September 29,

 

 

    

2019

    

2018

    

2019

    

2018

 

Net sales

 

$

1,663

 

$

1,651

 

$

5,028

 

$

4,921

 

Net earnings (loss) attributable to Seaboard

 

$

(7)

 

$

35

 

$

108

 

$

74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share

 

$

(6.00)

 

$

29.93

 

$

92.97

 

$

62.96

 

Average number of shares outstanding

 

 

1,165,081

 

 

1,170,550

 

 

1,166,073

 

 

1,170,550

 

Dividends declared per common share

 

$

2.25

 

$

1.50

 

$

6.75

 

$

4.50

 

Notes to Report of Earnings:

For the three and nine months ended September 28, 2019,  net earnings attributable to Seaboard included other investment income of $2 million and $152 million, respectively. For the three and nine months ended September 29, 2018, net earnings attributable to Seaboard included other investment income of $40 million and $15 million, respectively. Included in other investment income for the three and nine months ended September 28, 2019 was $2 million and $124 million, respectively, of non-cash, unrealized mark-to-market gains on short-term investments. 

Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on November 21, 2019 to stockholders of record at the close of business on November 11, 2019.

Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.