Pilgrim’s Announces $1.5 Billion Special Dividend and Long-term Capital Allocation Strategy

Core Insights - Pilgrim's Pride Corporation announced a capital deployment strategy aimed at improving its capital structure, enhancing its diversified portfolio, stimulating brand growth, and generating shareholder value [1][2] - The company declared a special cash dividend of $6.30 per share, totaling approximately $1.5 billion, payable on April 17, 2025 [1][2] - Over the past five years, Pilgrim's has invested more than $950 million in acquisitions, $1.8 billion in share repurchases and dividends, and $2.2 billion in capital expenditures [2] Capital Allocation Strategy - The CEO emphasized confidence in the business's future and the importance of the capital allocation strategy for disciplined growth and enhanced earnings potential [2] - The special dividend reflects the company's strong balance sheet and commitment to long-term stockholder value [2] - Future projects include expanding prepared foods, adding small bird capacity, converting a big bird plant to a case ready facility, and expanding protein conversion capacity [2][3] Company Overview - Pilgrim's Pride employs over 61,000 people and operates protein processing plants and prepared-foods facilities across 14 states, Puerto Rico, Mexico, the U.K., the Republic of Ireland, and continental Europe [4] - The primary distribution channels are through retailers and foodservice distributors [4]