OMAHA, Neb.--(BUSINESS WIRE)--Sep. 25, 2009--
ConAgra Foods, Inc., (NYSE: CAG) one of America’s leading packaged food
companies, held its annual meeting of stockholders in Omaha, Neb., today.
Chief Executive Officer Gary Rodkin reviewed key elements of the
progress the company made in fiscal 2009, which ended in May. Key
highlights included the turnaround of the company’s Consumer Foods
business, product innovation, implementation of insights-based marketing
and continued cost-saving initiatives.
Steve Goldstone, ConAgra Foods’ non-executive chairman of the board,
opened the meeting, and commented on the company’s performance. “Since
last year, each of us has experienced the effects of one of the most
destabilizing market environments the country has seen,” Goldstone said.
“I am happy to report that in the face of a very tough external
environment, ConAgra Foods began to deliver results that truly show its
potential.”
Stockholders elected the eleven director candidates as directors of
ConAgra Foods, approved each of the 2009 Stock Plan and Executive
Incentive Plan and ratified the appointment of the company’s auditors
for fiscal 2010. Certified vote results will be presented in the
company’s first-quarter Form 10-Q to be filed with the Securities and
Exchange Commission.
Earlier today, the board of directors of ConAgra Foods approved a
dividend increase by raising the quarterly dividend to $0.20 per share
from $0.19 per share currently. On an annualized basis, the dividend
increases to $0.80 per share from $0.76 per share. The first payment of
the new quarterly rate of $0.20 per common share will be paid on Dec. 1,
2009, to stockholders of record at the close of business on Oct. 30,
2009.
“I am pleased with the progress we’re seeing,” Rodkin said. “We are
investing in the growth of the business through high-quality marketing
programs, product innovation, and operating systems that we expect to
drive sustainable, profitable growth for our stockholders. Fiscal 2009
saw us begin to deliver on our potential, with healthy increases in net
sales, operating profits and EPS on a continuing operations basis. But
the turnaround in our Consumer Foods business really was the big story
of fiscal 2009. It happened through growth where it matters most—in our
most profitable, strongest brands with category leading positions.”
ConAgra Foods, Inc., (NYSE: CAG) is one of North America’s leading food
companies, with brands in 97 percent of America’s households. Consumers
find Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew
National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM, Peter
Pan, Reddi-wip and many ConAgra Foods brands in grocery,
convenience, mass merchandise and club stores. ConAgra Foods also has a
strong business-to-business presence, supplying potato, other vegetable,
spice and grain products to a variety of well-known restaurants,
foodservice operators and commercial customers. For more information,
please visit us at www.conagrafoods.com.
Annual Stockholder Meeting Webcast:
The company webcast its 2009 Annual Stockholders’ Meeting on Friday,
Sept. 25, 2009. The webcast will be archived starting at 4:30 p.m. EDT
on Friday, Sept. 25, and can be accessed at http://investor.conagrafoods.com.
Note on Forward-looking Statements:
This release contains forward-looking statements. These statements are
based on management’s current views and assumptions of future events and
financial performance and are subject to uncertainty and changes in
circumstances. The company undertakes no responsibility for updating
these statements. Readers of this release should understand that these
statements are not guarantees of performance or results. Many factors
could affect the company’s actual financial results and cause them to
vary materially from the expectations contained in the forward-looking
statements. These factors include, among other things: availability and
prices of raw materials; the impact of the accident at the Garner
manufacturing facility, including the ultimate costs incurred and the
amounts received under insurance policies; product pricing; future
economic circumstances; industry conditions; the company’s ability to
execute its operating plans; the success of the company’s innovation,
marketing, and cost-savings initiatives; the competitive environment and
related market conditions; operating efficiencies; the ultimate impact
of the company’s recalls; access to capital; actions of governments and
regulatory factors affecting the company’s businesses and other risks
described in the company’s reports filed with the Securities and
Exchange Commission. The company cautions readers not to place undue
reliance on any forward-looking statements included in this release,
which speak only as of the date made.
Source: ConAgra Foods, Inc.
ConAgra Foods, Inc.
Media
Teresa Paulsen,
402-240-5210
Vice President, Corporate Communications
or
Analysts
Chris
Klinefelter, 402-240-4154
Vice President, Investor Relations
