MERRIAM, Kan., Feb. 16, 2021 /PRNewswire/ -- The following
is a report of earnings for Seaboard Corporation (NYSE American:
SEB) with offices at 9000 West 67th Street,
Merriam, Kansas, for the three and
twelve months ended December 31, 2020 and
December 31, 2019, in millions of dollars except share
and per share amounts.
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Three Months
Ended
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Twelve Months
Ended
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ADJUSTED
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ADJUSTED
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December
31,
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December
31,
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December
31,
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December
31,
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2020
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2019
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2020
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2019
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Net sales
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$
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1,990
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$
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1,812
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$
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7,126
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$
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6,840
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Net earnings
attributable to Seaboard
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$
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259
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$
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173
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$
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283
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$
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287
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Earnings per common
share
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$
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222.52
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$
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148.75
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$
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244.21
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$
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246.62
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Average number of
shares outstanding
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1,160,779
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1,164,848
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1,161,526
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1,165,758
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Dividends declared
per common share
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$
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2.25
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$
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2.25
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$
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9.00
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$
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9.00
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Notes to Report of Earnings:
Prior period financial information included in this Current
Report on Form 8-K has been adjusted for the effect of a change in
method in accounting for inventory in the Pork segment. During the
fourth quarter of 2020, Seaboard elected to change its method for
valuing hogs, fresh pork and other inventories from the last-in,
first-out ("LIFO") method to the first-in, first-out ("FIFO")
method.
Capital market volatility on short-term investments has an
impact on Seaboard's earnings. For the three and twelve months
ended December 31, 2020, net earnings attributable to
Seaboard Corporation included other investment income of
$125 million and $84 million, respectively. For the three and
twelve months ended December 31, 2019, net earnings
attributable to Seaboard Corporation included other investment
income of $73 million and
$225 million, respectively.
Seaboard Corporation announced today that its Board of Directors
has authorized and declared a quarterly cash dividend of $2.25
per share of its common stock. The dividend is payable on
March 8, 2021 to stockholders of
record at the close of business on February
26, 2021.
Seaboard Corporation today filed its Annual Report on Form 10-K
with the United States Securities and Exchange Commission. Seaboard
Corporation has provided access to the Annual Report on Form 10-K
on its website at https://www.seaboardcorp.com/investors.
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content:http://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-301229453.html
SOURCE Seaboard Corporation
