Pilgrim's Announces $1.5 Billion Special Dividend and Long-term Capital Allocation Strategy

Core Viewpoint - Pilgrim's Pride Corporation has announced a capital deployment strategy aimed at improving its capital structure, enhancing its diversified portfolio, stimulating brand growth, and generating shareholder value through a special cash dividend of $6.30 per share, totaling approximately$1.5 billion [1][2]. Group 1: Capital Deployment Strategy - The board of directors has approved a special cash dividend of $6.30 per share, payable on April 17, 2025, to stockholders of record on April 3, 2025 [1]. - Over the past five years, Pilgrim's has invested more than$950 million in acquisitions, $1.8 billion in share repurchases and dividends, and$2.2 billion in capital expenditures [2]. Group 2: Future Growth Plans - The company plans to strengthen its portfolio by expanding in prepared foods, adding small bird capacity, converting a big bird plant to a case ready facility, and expanding protein conversion capacity [2]. - The leadership team will discuss its capital allocation strategy and future growth plans during an upcoming investor day event [3]. Group 3: Company Overview - Pilgrim's employs over 61,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K., the Republic of Ireland, and continental Europe [4].