ORRVILLE, Ohio, Oct. 17, 2014 /PRNewswire/ -- The J. M.
Smucker Company (NYSE: SJM) today announced that the Board of
Directors has approved a $0.64 per
share dividend on the common shares of the Company. The
dividend will be paid on Monday, December 1,
2014, to shareholders of record at the close of business on
Friday, November 14, 2014.
In other actions, the Board increased the Company's share
repurchase authorization by five million common shares.
Therefore, the Company has a total of approximately ten million
common shares available for repurchase under its Board
authorizations. Future share repurchases will occur at
management's discretion, and there is no guarantee as to the exact
number of shares that will be repurchased.
About The J. M. Smucker Company
For more than 115 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 natural foods
products in North America. Its
family of brands includes Smucker's®,
Folgers®, Dunkin' Donuts®,
Jif®, Crisco®,
Pillsbury®, Eagle Brand®,
R.W. Knudsen Family®, Hungry
Jack®, Millstone®, Café
Bustelo®, Café Pilon®,
truRoots®, White Lily®,
Martha White®, and
Sahale Snacks® 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 jmsmucker.com.
The J. M. Smucker Company is the owner of all trademarks
referenced herein, except for the following, which are used under
license: Pillsbury® is a trademark of The
Pillsbury Company, LLC; Carnation® is a trademark
of Societe des Produits Nestle S.A.; and Dunkin'
Donuts® is a registered trademark of DD IP Holder
LLC.
Dunkin' Donuts® brand is licensed to The J. M.
Smucker Company for packaged coffee products sold in retail
channels such as grocery stores, mass merchandisers, club stores,
and drug stores. This information does not pertain to
Dunkin' Donuts® coffee or other products for sale
in Dunkin' Donuts® restaurants.
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 on
a timely basis and on acceptable terms;
- the timing and amount of capital expenditures, share
repurchases, and restructuring costs;
- other factors affecting share prices and capital markets
generally; and
- risks related to 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.
SOURCE The J. M. Smucker Company