Oil-Dri Increases Dividends for 23rd Consecutive Year and Authorizes Stock Repurchases
Rhea-AI Summary
Oil-Dri (NYSE: ODC) increased its quarterly cash dividend by two cents per share, about a 10% rise to $0.225 for Common Stock and $0.168 for Class B, marking the 23rd consecutive year of dividend growth. The board also authorized repurchases of up to 500,000 additional Common shares, supplementing existing buyback capacity. Dividends are payable August 21, 2026 to shareholders of record on August 7, 2026. Third-quarter fiscal 2026 results and an earnings webcast are scheduled for June 8–9, 2026.
AI-generated analysis. Not financial advice.
Positive
- Quarterly dividend increased ~10% to $0.225 (Common) and $0.168 (Class B)
- 23rd consecutive year of dividend growth since 1974 payout history
- Authorization to repurchase up to 500,000 additional Common shares
- Existing capacity to repurchase 172,261 Common and 208,197 Class B shares
- Capital returns via both higher dividends and expanded share repurchases
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
ODC traded at $77.19 with a modest -0.39% move while key specialty-chemicals peers were mixed: SCL (-0.63%), ECVT (-0.45%), but MATV (+3.40%), KRO (+3.88%), and OEC (+5.15%). Momentum scanners only flagged LWLG (+0.41%), indicating today’s dividend increase and buyback authorization were company-specific rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 06 | Marketing initiative | Positive | +0.6% | Launch of campaign to donate one million pounds of cat litter. |
| Apr 13 | Workplace award | Positive | -1.0% | Recognition as a 2026 USA TODAY Top Workplaces winner. |
| Mar 12 | Dividend declaration | Positive | -2.9% | Board declared quarterly cash dividends on Common and Class B shares. |
| Mar 11 | Earnings report | Positive | +0.8% | Record second-quarter net sales with slightly lower profits and buybacks. |
| Feb 26 | Partnership seminars | Positive | +0.8% | Amlan and Elanco co-host calf health educational seminars in Japan. |
Recent company-specific news has often led to modest single-day moves, with generally positive news sometimes met with negative or muted reactions.
Over the past few months, Oil-Dri has reported record second-quarter net sales of $117.7M and continued share repurchases, while maintaining consistent dividend increases since 1974. News has focused on operational performance, capital returns, and brand initiatives, including a philanthropy-driven cat litter campaign and workplace culture recognition. A March 2026 dividend declaration with a long-running increase streak drew a negative price reaction, showing that positive capital-return announcements have not always translated into immediate stock gains. Today’s higher dividend and expanded repurchase authorization extend that long-term capital-return narrative.
Market Pulse Summary
This announcement underscores Oil-Dri’s focus on shareholder returns, with a higher quarterly dividend of $0.225 for Common Stock and $0.168 for Class B, extending a 23-year dividend growth streak and dividend payments dating back to 1974. The Board also authorized repurchases of up to 500,000 additional Common shares, on top of existing buyback capacity. In context of prior record revenues and ongoing repurchases, investors may watch the upcoming June 8 earnings release and June 9 webcast for details on cash flow, margins, and capital allocation discipline.
AI-generated analysis. Not financial advice.
CHICAGO, June 03, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) today declared a two-cent increase in the Company’s quarterly cash dividend per share of Common Stock, marking the 23rd consecutive year of dividend growth. The new dividend will be
Oil-Dri has paid cash dividends continuously each year since 1974, demonstrating the Company’s sustained fiscal strength and disciplined capital management over time.
The cash dividends will be payable on August 21, 2026 to stockholders of record at the close of business on August 7, 2026.
The Board of Directors also authorized the repurchase of up to 500,000 shares of Common Stock. These shares are in addition to the 172,261 shares of Common Stock and 208,197 shares of Class B Stock available for repurchase as of April 30, 2026 under prior authorizations from the Board of Directors.
“Our strong financial foundation allows us to further raise our dividend following the increase announced in December, while also enhancing our share repurchase program,” said Daniel S. Jaffee, President and Chief Executive Officer of Oil‑Dri. “These actions reflect our confidence in the Company’s future and reinforce our commitment to thoughtful capital allocation and long-term shareholder returns.”
The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of Oil-Dri's stock and general market and economic conditions.
The Company’s press release outlining its performance for the third quarter of fiscal year 2026 will be issued after the close of the U.S. stock market on Monday, June 8, 2026. Oil-Dri will host an earnings discussion via a live webcast on Tuesday, June 9, 2026 at 10:00 a.m. Central Time. Participation details are posted on the Company’s website’s Events page.
About Oil-Dri Corporation of America
Oil-Dri Corporation of America (“Oil-Dri”) is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the Company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With over 80 years of experience, the Company continues to fulfill its mission to Create Value from Sorbent Minerals. To learn more about the Company, please visit oildri.com.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management’s current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated trends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” “potential,” “strive,” and variations of such words and similar references to future periods.
Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.
Contact:
Leslie A. Garber
Director of Investor Relations
Oil-Dri Corporation of America
InvestorRelations@oildri.com
(312) 321-1515
