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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.