Archer Daniels Midland Boosts Dividend 26%

(RTTNews) - Archer Daniels Midland Co. (ADM) said Monday that, as a result of strong operating cash flows and expected improvements in its earnings for 2014, its Board of Directors has voted to raise the company's regular quarterly cash dividend from $0.19 per share to $0.24 per share, or 26%, on the company's common stock payable March 13, 2014, to stockholders of record at the close of business on February 20, 2014.

The company also said that it plans to buy back 18 million shares of its stock by the end of 2014 to fully mitigate the dilutive impact of equity units converted in 2011 and compensation and benefit plan issuances in 2013 and 2014. At current prices, that would represent about $725 million.

To the extent that ADM's credit metrics improve throughout the year and the company receives significant proceeds from asset sales, the company said it will consider further distributions to shareholders later in 2014 in the context of its capital allocation strategy.