Oil-Dri Corporation of America reports developments tied to its sorbent mineral products business, including specialty absorbents and purification materials sold into pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets.
Recurring updates cover quarterly operating results, product-group trends in the Retail and Wholesale Products Group and Business-to-Business Products Group, cash dividends on Common Stock and Class B Stock, and activity at Amlan International, the company's animal health business. News also includes mineral-based feed additive products, agricultural offerings such as Verge, and fluids purification demand across edible oil, jet fuel and renewable diesel applications.
Amlan International has appointed Harold Zhou as the new Regional Operations Director for China, aimed at strengthening its market presence. Zhou, with extensive industry experience, will focus on enhancing customer value and profitability in the Chinese market. He previously served as Sales Director for a global pedigree broiler breeding company and has a background in veterinarian science. Amlan's innovative mineral-based feed additives enhance animal health and efficiency, supporting its mission to provide high-quality animal protein solutions.
On December 16, 2020, Amlan International, the animal health division of Oil-Dri Corporation of America, announced the appointment of Heath Wessels as the Director of Sales for North America. This new role aims to enhance Amlan's business presence in the U.S. and Canada, focusing on delivering value and profitability through its mineral-based feed additives. With over 20 years of experience in the animal protein sector, Wessels is expected to drive growth and build strategic relationships with producers to meet increasing consumer demands for high-quality animal protein.
The Board of Directors of Oil-Dri Corporation of America (NYSE: ODC) announced a quarterly cash dividend of $0.26 per share for Common Stock and $0.195 per share for Class B Stock. These dividends will be payable on February 26, 2021, to shareholders on record as of February 12, 2021. Oil-Dri has a longstanding history of continuous cash dividends since 1974 and has raised its dividend annually for 17 consecutive years. The company plans to release its earnings report for the second quarter of fiscal 2021 on March 11, 2021.
Oil-Dri Corporation of America (NYSE: ODC) reported a 7% increase in consolidated net sales for Q1 FY2021, reaching $76 million. Net income rose 13% to $4 million, and diluted EPS increased to $0.56. The B2B Products Group saw a 4% revenue rise, driven by a 22% increase in agricultural sales, while retail and wholesale revenues surged 9%. Operating income totaled $5.2 million, a 26% increase, despite challenges in animal health and industrial segments due to COVID-19. The company maintains a strong balance sheet with $31 million in cash and minimal debt.
Oil-Dri Corporation (NYSE: ODC) will participate in the virtual Southwest IDEAS Investor Conference on November 19, 2020. Key executives, including Daniel S. Jaffee and Susan M. Kreh, will present insights on the company. A pre-recorded presentation will be accessible on the company’s website starting at 7:00 am CST on November 18. Oil-Dri is known for its high-quality sorbent mineral products across various markets, leveraging over 75 years of expertise.
On October 26, Cat's Pride launches the Twin to Win contest, offering cat owners a chance to win cash prizes up to $2,500 and a coupon for $5 off their litter purchase. Participants must upload creative photos twinning with their cats at CatTwinning.com. The first 50,000 entrants receive the discount, while the top three voted images earn cash prizes of $2,500, $1,000, and $500. Voting for winners is from November 16 to December 6. Cat's Pride supports animal shelters through its Litter for Good program, donating litter for every purchase.
Oil-Dri Corporation of America (NYSE:ODC) has appointed Lawrence E. Washow as Vice Chairman of its Board of Directors. Washow, a board member since 2013, brings extensive experience in minerals and manufacturing. Additionally, the Board declared quarterly cash dividends of $0.26 per share for Common Stock and $0.195 for Class B Stock, payable on November 27, 2020, to stockholders of record on November 13, 2020. Oil-Dri has consistently paid dividends since 1974 and has increased them for 17 consecutive years. Earnings for Q1 fiscal 2021 will be released on December 7, 2020.
Oil-Dri Corporation of America (NYSE: ODC) reported its fourth quarter and fiscal year 2020 results, showcasing a net income of $5.9 million for Q4, a 55% increase year-over-year, and a total net income of $18.9 million for the fiscal year, reflecting a 50% growth. Despite an 8% decline in Q4 net sales to $64.8 million, the company achieved record annual net sales of $283 million, up 2% from 2019. A one-time $13 million gain from an intellectual property license agreement significantly boosted quarterly results. The strong liquidity position includes $41 million in cash against $10 million in debt.
Amlan International has appointed Fred H. Kao as Vice President of Global Sales to enhance its efforts in livestock intestinal health solutions. This role is aimed at meeting the rising global demand for antibiotic-free protein products. Kao, with over 20 years of experience in the animal protein sector, has a proven record in improving profitability and business operations, particularly in Asia. His expertise will support Amlan's strategy in emerging markets, crucial for growth in natural alternatives to antibiotic growth promoters.
Amlan International, a subsidiary of Oil-Dri Corporation (NYSE: ODC), will demonstrate its mineral-based alternatives to antibiotics in poultry production on Fox Business's "Built in America: INNOVATION NATION" airing August 30. The segment features Dr. Hongyu Xue, highlighting how Varium protects chicken health and reduces antibiotic use. Amidst food safety concerns raised by COVID-19, Amlan aims to address global food supply challenges. The company's advancements in mineral technology contribute to sustainable agricultural practices.