ADM raises dividend 9%

by Eric Schroeder
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DECATUR, ILL. — Archer Daniels Midland Co. has raised its quarterly cash dividend 9%, to 17.5c per share from 16c per share. The dividend is payable Dec. 8 to shareholders of record as of Nov. 17.

“We are increasing our dividend to reflect the earnings growth we have experienced during the past fiscal year and our commitment to deliver returns to our shareholders for both the near term and the long term,” said Patricia A. Woertz, chairman, chief executive officer and president. “We have a strong balance sheet to support this increase, and we are confident we have a solid foundation to drive long-term earnings growth for our company.”

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