Pilgrim's Pride Declares $1.5 Billion Special Dividend

Pilgrim's Pride Corporation has announced a special cash dividend of $6.30 per share, amounting to approximately $1.5 billion, reflecting the company's strong balance sheet and commitment to shareholder value. The dividend is payable on April 17 to shareholders of record as of April 3. This marks a significant return to shareholders for the Greeley, Colorado-based poultry company, which does not typically issue regular dividends. CEO Fabio Sandri emphasized the company's confidence in future growth and a disciplined capital allocation strategy aimed at enhancing its diversified portfolio. The announcement comes alongside plans to invest in brand growth and expand production capabilities for prepared foods. Shares of Pilgrim's Pride saw an increase in pre-market trading following the announcement.