Premium Standard Farms, Inc. Declares Quarterly Dividend
March 16 2007 - 10:30AM
PR Newswire (US)
KANSAS CITY, Mo., March 16 /PRNewswire-FirstCall/ -- Premium
Standard Farms, Inc. (NASDAQ:PORK) announced today that its Board
of Directors declared a quarterly dividend of $0.06 per share,
which will be paid on April 27, 2007, to all common stockholders of
record as of March 30, 2007. This dividend has been declared
pursuant to the Board's stated policy to pay quarterly dividends
after assessing Premium Standard Farms, Inc.'s (PSF) earnings,
liquidity needs, debt arrangements and other factors the Board of
Directors deems relevant. PSF is one of the largest vertically
integrated providers of pork products in the United States,
producing consistent, high quality pork products for the retail,
wholesale, foodservice, export, and further processor markets. PSF
is the nation's second largest pork producer and sixth largest pork
processor, with approximately 4,300 employees working at farms and
processing facilities in Missouri, North Carolina, and Texas. This
news release contains "forward-looking statements" within the
meaning of the federal securities laws. Naturally, all
forward-looking statements involve risk and uncertainty and actual
results or events could be materially different. Although we
believe that our expectations are based on reasonable assumptions,
we can give no assurance that our goals will be achieved. Important
factors that could cause actual results to differ include: economic
conditions generally and in our principal markets; competitive
practices and consolidation in the pork production and processing
industries; the impact of current and future laws, government
regulations and fiscal policies affecting our industry and
operations, including environmental litigation, laws and
regulations, trade embargoes and tariffs; developments relating to
our pending merger with Smithfield, including the costs relating to
the proposed merger and disruption from the transaction making it
more difficult to maintain relationships with customers, employees
or suppliers; uncertainties relating to litigation involving us;
domestic and international transportation disruptions; food safety;
the availability of additional capital to fund future commitments
and expansion and the cost and terms of financing; the extent to
which we are able to manage animal health issues; feed ingredient
costs; fluctuations in live hog and wholesale pork prices; customer
demands and preferences; and the occurrence of natural disasters
and other occurrences beyond our control. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed
might not occur. DATASOURCE: Premium Standard Farms, Inc. CONTACT:
Steve Lightstone of Premium Standard Farms, +1-816-472-7675 Web
site: http://www.psfarms.com/
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