By Colin Kellaher
Pilgrim's Pride is returning about $1.5 billion to its shareholders through a special dividend.
Pilgrim's Pride on Friday said its board declared a special dividend of $6.30, payable April 17 to shareholders of record April 3.
The Greeley, Colo., chicken company, which doesn't pay a regular dividend, said the special payout reflects a strong balance sheet and its commitment to create long-term shareholder value.
The bulk of the special dividend will go to Brazilian meatpacker JBS, which owns more than 80% of Pilgrim's Pride.
Shares of Pilgrim's Pride were recently up 4.3% to $52.41 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 14, 2025 06:22 ET (10:22 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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