Sanderson Farms (SAFM) wil raise its quarterly dividend to $0.32 per share. Also a $1.00 per share special cash dividend will be paid.

Both dividends are payable on October 17, 2017, to stockholders of record on October 3, 2017. The new regular dividend yield for Sanderson Farms is 0.8%.

Commenting on the announcement, Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, Inc., said, “We are proud to share our strong financial and operating performance with our shareholders through increased dividend payments. The Board’s decision today demonstrates confidence in our growth prospects and confirms our unwavering commitment to enhancing shareholder value. In addition, our strong balance sheet and financial strength have provided an opportunity to declare another special dividend this fiscal year. At the same time, we are well positioned to continue to respond to new market opportunities that will benefit 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.