The Andersons, Inc. Declares Cash Dividend for Fourth Quarter 2024; Announces $100 Million Share Repurchase Program

Rhea-AI Summary

The Andersons, Inc. (Nasdaq: ANDE) has announced two significant financial decisions. Firstly, the company declared a fourth quarter 2024 cash dividend of $0.19 per share, payable on October 22, 2024, to shareholders of record as of October 1, 2024. This marks the company's 112th consecutive quarterly cash dividend since its Nasdaq listing in 1996.

Secondly, the board of directors has authorized a $100 million share repurchase program for outstanding company common stock. The program will be effective for three years, with shares to be repurchased in open market transactions based on stock price and market conditions. CEO Pat Bowe emphasized that this program provides an additional opportunity to return cash to shareholders while maintaining flexibility for core business growth.

Positive

• Declared a $0.19 per share cash dividend for Q4 2024
• Authorized a $100 million share repurchase program
• Maintained 112 consecutive quarterly cash dividends since 1996 Nasdaq listing
• Named to Forbes list of America's Most Successful Small Companies for 2024
• Listed on Newsweek's America's Most Responsible Companies
• Recognized as one of The Americas' Fastest Growing Companies by Financial Times

Negative

• None.

News Market Reaction

+2.87%

1 alert

+2.87% News Effect

On the day this news was published, ANDE gained 2.87%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MAUMEE, Ohio, Aug. 15, 2024 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces a fourth quarter 2024 cash dividend of 19 cents ($0.19) per share payable on October 22, 2024, to shareholders of record as of October 1, 2024. The company's board of directors has also authorized a share repurchase program of up to $100 million of outstanding company common stock.

"Remaining disciplined in our capital allocation strategy has enabled us to retain flexibility with our balance sheet as we seek to continue growing our core business. This share repurchase program gives us an additional opportunity to return cash to our shareholders at the appropriate time and share valuation," said Chairman and CEO Pat Bowe.

Shares will be repurchased from time-to-time in open market transactions. When, and if, shares are purchased will depend on stock price, market conditions, and other factors. Authorization of this program does not obligate share repurchase by The Andersons. The authorization for this plan will be in effect for a period of three years.

This is The Andersons 112^th consecutive quarterly cash dividend since listing on the Nasdaq in February 1996.

About The Andersons, Inc.

The Andersons, Inc., named for 2024 to Forbes list of America's Most Successful Small Companies, Newsweek's list of America's Most Responsible Companies, and one of The Americas' Fastest Growing Companies by the Financial Times, is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and nutrient & industrial sectors. Guided by its Statement of Principles, The Andersons is committed to providing extraordinary service to its customers, helping its employees improve, supporting its communities, and increasing the value of the company. For more information, please visit www.andersonsinc.com.

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SOURCE The Andersons, Inc.

FAQ

What is the amount of The Andersons' (ANDE) Q4 2024 cash dividend?

The Andersons (ANDE) declared a fourth quarter 2024 cash dividend of $0.19 per share.

When will The Andersons (ANDE) pay its Q4 2024 dividend?

The Andersons (ANDE) will pay its Q4 2024 dividend on October 22, 2024, to shareholders of record as of October 1, 2024.

How much is The Andersons' (ANDE) new share repurchase program worth?

The Andersons (ANDE) has authorized a $100 million share repurchase program for outstanding company common stock.

How long will The Andersons' (ANDE) share repurchase program be in effect?

The Andersons' (ANDE) share repurchase program will be in effect for a period of three years.

How many consecutive quarterly cash dividends has The Andersons (ANDE) paid since its Nasdaq listing?

The Andersons (ANDE) has paid 112 consecutive quarterly cash dividends since listing on the Nasdaq in February 1996.