Bunge Global SA reports recurring developments across a global agribusiness platform that originates, stores, transports, processes, refines, merchandises and markets agricultural commodities and plant-based oils, fats and proteins. Its operating updates focus on Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling, with regional commentary on South America, North America, Europe and Asia.
Other recurring announcements cover the integration of Viterra, portfolio moves such as soy protein concentrate, lecithin and crush assets, capital allocation through dividends and share repurchases, senior note financing, and investor presentations. Earnings releases also discuss commodity, freight and foreign-exchange mark-to-market timing, readily marketable inventories, crop flows, biodiesel, wheat milling, ocean freight and customer ingredient solutions.
Bunge Limited (NYSE:BG) has priced a public offering of $1 billion of 2.750% senior notes due 2031 through its finance subsidiary, Bunge Limited Finance Corp. The offering, registered with the U.S. SEC, is expected to close on May 14, 2021, pending customary conditions. The proceeds will be utilized for general corporate purposes, including repayment of short-term debt. Major financial institutions are involved as joint book-running managers and senior co-managers for this offering.
Bunge has partnered with Target to create Vector, a new company focusing on digitizing truck freight services in Brazil. This initiative aims to enhance logistics efficiency and reduce costs. The Vector app, which has been instrumental in Bunge's operations, has digitized nearly all freight contracting processes, accounting for 97% of Bunge's road transport volume. It has registered 48,000 truck drivers and organized 557,000 trips, facilitating $480 million in freight payments. Vector's platform uniquely integrates with shippers’ systems to streamline scheduling and documentation.
Bunge Limited (NYSE: BG) has declared a quarterly cash dividend of $0.525 per share, reflecting a 5% increase. This dividend is payable on September 2, 2021, to shareholders of record as of August 19, 2021.
Additionally, a dividend of $1.21875 per share has been declared for its 4.875% cumulative convertible perpetual preference shares, payable on September 1, 2021, to shareholders of record on August 15, 2021.
Bunge Limited (NYSE:BG) reported a stellar Q1 2021, with GAAP EPS of $5.52, a significant improvement from $(1.46) in the previous year. Adjusted EPS rose to $3.13 from $0.91. The company's net income was $831 million, up from a $(184 million) loss in 2020. Bunge also increased its full-year adjusted EPS outlook to approximately $7.50, driven by robust demand and a focus on customer needs. The quarterly dividend was raised by 5% to $0.525 per share. Strong performance in Agribusiness and Refined Oils bolstered the results.
Bunge Limited (NYSE:BG) has announced changes to its segment reporting, effective Q1 2021, to align with its new operating structure. Key changes include the elimination of the fertilizer segment, which is now part of Agribusiness, and a reorganization of grains and oilseeds operations into processing and merchandising categories. These adjustments reflect how the CEO assesses financial information for resource allocation. Notably, these changes do not affect previously reported financial statements. Financial data from 2020 has been recast to reflect the new structure.
Bunge Limited (NYSE: BG) will hold its Annual General Meeting (AGM) of Shareholders on May 5, 2021, at 11:00 a.m. Central Time. The AGM will be virtual-only, accessible via live audio webcast to ensure safety. Shareholders can vote and submit questions online using their control number from proxy materials. The record date for voting eligibility was March 8, 2021. Bunge emphasizes the importance of early voting for all shareholders, regardless of attendance plans.
Bunge Limited (NYSE: BG) will release its financial results for Q1 2021 on May 4, 2021, before the market opens. A conference call is scheduled for 7:00 am CT to discuss these results, with a slide presentation available on www.bunge.com. Investors can join the call by dialing 1-844-735-3666 (or 1-412-317-5706 internationally). A replay will be accessible from May 4 to June 4, 2021. Bunge is a leader in oilseed processing, committed to enhancing global food security and sustainability.
Bunge Limited (NYSE: BG) announces the retirement of Raul Padilla, President of Global Operations, effective December 31, 2021. His responsibilities will be redistributed internally, with Julio Garros assuming external relations in South America. Garros has 19 years of experience at Bunge, notably as Global Transformation Leader. Padilla has been instrumental in positioning Bunge as a leader in oilseed processing and has served since May 2019. CEO Greg Heckman acknowledged Padilla's contributions and expressed optimism about future advancements in shareholder value with the new leadership.
Bunge has launched the Bunge Sustainable Partnership initiative to enhance traceability and monitoring of soybeans in Brazil's Cerrado region, a critical area for deforestation. This program aids grain dealers in implementing verification systems, offering Bunge's geospatial monitoring tools at no cost. Currently, Bunge achieves 100% traceability for direct purchases and aims to extend this to indirect purchases over the next four years, monitoring 30% of these currently. The initiative supports Bunge's commitment to achieving deforestation-free supply chains by 2025.
Bunge Limited (NYSE: BG) has completed the sale of its Rotterdam refinery to Neste Corporation (NESTE.HE). The transaction allows Bunge to lease back the facility in a phased transition that will last until the end of 2024, ensuring a seamless supply for customers. This strategic move reflects Bunge's commitment to operational efficiency and customer service continuity during the transition period.