ORRVILLE, Ohio - The J.M. Smucker Co. (NYSE: SJM), a leading producer of food and pet products, declared a dividend of $1.06 per share on its common shares, payable on June 3, 2024, to shareholders on record as of May 17, 2024. This announcement was made today by the company's Board of Directors.
In addition to the dividend, the company has scheduled its Annual Meeting of Shareholders to be conducted virtually on August 14, 2024. The meeting will commence at 11:00 a.m. Eastern Time.
Shareholders registered by the close of business on June 17, 2024, will have the opportunity to participate in the meeting and cast their votes online through the company's website, provided they have their 16-digit control number available.
The J.M. Smucker Co. is known for its portfolio of brands that are staples in North American households. These brands include Folgers, Dunkin', Café Bustelo, Jif, Smucker's, Uncrustables, Hostess, Voortman, Milk-Bone, and Meow Mix. The company emphasizes its commitment to quality products and ethical operations, aiming to positively impact society while growing its business.
The company's licensing agreement with DD IP Holder LLC allows it to use the Dunkin' brand for packaged coffee products sold in retail outlets, excluding Dunkin' restaurants.
The information is based on a press release statement from The J.M. Smucker Co. and is intended to inform shareholders and the public of the company's financial distributions and upcoming corporate governance event.
InvestingPro Insights
The J.M. Smucker Co. (NYSE: SJM) continues to demonstrate its commitment to shareholders with a recently declared dividend, marking a continuation of its impressive history of dividend payments.
Notably, the company has raised its dividend for 14 consecutive years and has maintained dividend payments for 54 consecutive years, reflecting a strong and stable financial policy that investors might find reassuring. This aligns with the PRONEWS24 coupon code, which can offer investors additional insights with a 10% discount on a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
From a financial perspective, the company's market cap stands at $11.8 billion USD, and despite a challenging period reflected in a negative P/E ratio of -113.67, analysts predict a return to profitability this year.
The adjusted P/E ratio for the last twelve months as of Q3 2024 is more favorable at 15.06, suggesting a potential normalization of earnings. Additionally, the company's commitment to shareholder returns is evident in its dividend yield of 3.86%, which is attractive in the current investment climate.
InvestingPro Tips indicate that management has been actively buying back shares, a move that can reflect confidence in the company's future and often leads to an increase in shareholder value. Moreover, the company's stock is currently trading near its 52-week low, which could be an interesting entry point for investors considering the company's historical performance and future outlook.
For those interested in further analysis and additional InvestingPro Tips, there are currently six more tips available for The J.M. Smucker Co. at InvestingPro, which can provide deeper insights into the company's financial health and stock performance.
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