The J. M. Smucker Company Declares Dividend and Authorizes Repurchase of Additional Shares
ORRVILLE, Ohio, Jan. 26, 2012 /PRNewswire/ -- The Board of Directors of The J. M. Smucker Company (NYSE: SJM) declared a $0.48 per share dividend on the common shares of the Company to be paid on Thursday, March 1, 2012, to shareholders of record at the close of business on Friday, February 10, 2012.
In other actions, the Board increased the Company's share repurchase authorization by five million common shares. Future share repurchases will occur at management's discretion and there is no guarantee as to the exact number of shares that may be repurchased. The Company has approximately two million common shares remaining for repurchase under its January 2011 Board authorization.
About The J. M. Smucker Company
For more than 110 years, The J. M. Smucker Company has been committed to offering consumers quality products that bring families together to share memorable meals and moments. Today, Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America. Its family of brands includes Smucker's®, Folgers®, Dunkin' Donuts®, Jif®, Crisco®, Pillsbury®, Eagle Brand®, R.W. Knudsen Family®, Hungry Jack®, Cafe Bustelo®, Cafe Pilon™, White Lily® and Martha White® in the United States, along with Robin Hood®, Five Roses®, Carnation® and Bick's® in Canada. The Company remains rooted in the Basic Beliefs of Quality, People, Ethics, Growth and Independence established by its founder and namesake more than a century ago. For more information about the Company, visit www.smuckers.com.
The J. M. Smucker Company is the owner of all trademarks, except Pillsbury, the Barrelhead logo and the Doughboy character are trademarks of The Pillsbury Company, LLC, used under license; Carnation is a trademark of Societe des Produits Nestle S.A., used under license; and Dunkin' Donuts is a registered trademark of DD IP Holder, LLC, used under license. Borden and Elsie are trademarks used under license.
The J. M. Smucker Company Forward-Looking Language
This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from any future results, performance, or achievements expressed or implied by those forward-looking statements. Readers should understand that the risks, uncertainties, factors, and assumptions listed and discussed in this press release, including the following important factors and assumptions, could affect the future results of the Company and could cause actual results to differ materially from those expressed in the forward-looking statements:
- the ability of the Company to obtain any required financing;
- the timing and amount of capital expenditures, share repurchases, and restructuring costs;
- other factors affecting share prices and capital markets generally; and
- the other factors described under "Risk Factors" in other reports and statements filed by the Company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K.
Readers are cautioned not to unduly rely on such forward-looking statements, which speak only as of the date made, when evaluating the information presented in this press release. The Company does not undertake any obligation to update or revise these forward-looking statements to reflect new events or circumstances.Sonal Robinson, Vice President, Investor Relations; Media: Maribeth Badertscher, Vice President, Corporate Communications, both of The J. M. Smucker Company, +1-330-682-3000
SOURCE The J. M. Smucker Company