ConAgra Foods Holds Annual Meeting of Stockholders
OMAHA, Neb.--(BUSINESS WIRE)--Sep. 25, 2009-- 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 most—in 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. Consumers find Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM, Peter Pan, Reddi-wip and many ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying potato, other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at www.conagrafoods.com.
