(Source: Business Wire)
ConAgra Foods, Inc., (NYSE: CAG) one of America's leading packaged food
companies, held its annual meeting of stockholders in Omaha, Neb., today.
Chief Executive Officer Gary Rodkin reviewed key elements of the
progress the company made in fiscal 2009, which ended in May. Key
highlights included the turnaround of the company's Consumer Foods
business, product innovation, implementation of insights-based marketing
and continued cost-saving initiatives.
Steve Goldstone, ConAgra Foods' non-executive chairman of the board,
opened the meeting, and commented on the company's performance. "Since
last year, each of us has experienced the effects of one of the most
destabilizing market environments the country has seen," Goldstone said.
"I am happy to report that in the face of a very tough external
environment, ConAgra Foods began to deliver results that truly show its
potential."
Stockholders elected the eleven director candidates as directors of
ConAgra Foods, approved each of the 2009 Stock Plan and Executive
Incentive Plan and ratified the appointment of the company's auditors
for fiscal 2010. Certified vote results will be presented in the
company's first-quarter Form 10-Q to be filed with the Securities and
Exchange Commission.
Earlier today, the board of directors of ConAgra Foods approved a
dividend increase by raising the quarterly dividend to $0.20 per share
from $0.19 per share currently. On an annualized basis, the dividend
increases to $0.80 per share from $0.76 per share. The first payment of
the new quarterly rate of $0.20 per common share will be paid on Dec. 1,
2009, to stockholders of record at the close of business on Oct. 30,
2009.
"I am pleased with the progress we're seeing," Rodkin said. "We are
investing in the growth of the business through high-quality marketing
programs, product innovation, and operating systems that we expect to
drive sustainable, profitable growth for our stockholders. Fiscal 2009
saw us begin to deliver on our potential, with healthy increases in net
sales, operating profits and EPS on a continuing operations basis. But
the turnaround in our Consumer Foods business really was the big story
of fiscal 2009. It happened through growth where it matters mostin our
most profitable, strongest brands with category leading positions."
ConAgra Foods, Inc., (NYSE: CAG) is one of North America's leading food
companies, with brands in 97 percent of America's households.
