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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.
Oil-Dri Corporation of America (NYSE: ODC) mourns the passing of Vice Chairman Joseph C. Miller, a pivotal figure in the company for over 50 years. His contributions included pioneering value-added cat litter, significantly impacting the industry. Miller joined Oil-Dri in 1989, serving in various leadership roles, ultimately becoming Vice Chairman in 1995. CEO Daniel S. Jaffee expressed deep condolences, highlighting Miller's legacy of business acumen and leadership. Oil-Dri remains committed to its mission of creating value from sorbent minerals across multiple markets.
On June 16, 2020, Oil-Dri Corporation of America (NYSE: ODC) announced its participation in the East Coast IDEAS Investor Conference occurring on June 23, 2020. Key executives, including Daniel S. Jaffee and Susan M. Kreh, will present. The presentation will be available online starting at 8:00 AM CST.
Oil-Dri specializes in sorbent mineral products across various markets, showcasing over 75 years of experience. For more details, visit www.oildri.com.
Oil-Dri Corporation (ODC) announced a quarterly cash dividend of $0.26 per share for Common Stock and $0.195 for Class B Stock, reflecting a 4% increase. The dividends will be payable on August 28, 2020, to stockholders of record by August 14, 2020. This marks the seventeenth consecutive annual dividend increase since 1974, showcasing the company’s commitment to returning value to shareholders. The earnings report for the fourth quarter of fiscal 2020 will be released on October 13, 2020, with an Investor Teleconference on October 14, 2020.
Oil-Dri Corporation of America (NYSE: ODC) reported strong financial results for the third quarter and first nine months of fiscal 2020. Consolidated net sales rose 8% to $76.3 million, driven by increased demand for cat litter amid COVID-19. However, net income fell 17% year-over-year to $4.6 million. Earnings per diluted share decreased 18% to $0.61. The company achieved record sales in both retail and wholesale segments, with a 54% increase in operating income. Although the Business to Business group performed well, challenges in the fluid purification market were noted due to COVID-19.