Sanderson Farms (SAFM) wil raise its quarterly dividend to $0.24 per share. Also a $1 per share special cash dividend will be paid.

Both the regular quarterly cash dividend and the special cash dividend are payable on October 18, 2016, to stockholders of record on October 4, 2016. Declaration of the regular quarterly cash dividend will remain subject to Board approval each quarter.

Commenting on the announcement, Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc., said, "The Board's decision to declare these new dividend payments reflects our commitment to delivering value to our shareholders and demonstrates our confidence in Sanderson Farms' future growth prospects. We are especially pleased that our operating performance to date in fiscal 2016 and our strong balance sheet have provided this opportunity to declare another special dividend. At the same time, we have the financial strength to continue to execute our growth strategy and take advantage of additional market opportunities that will reward Sanderson Farms and our shareholders."

Sanderson Farms, Inc. is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.