Pilgrim’s Pride to pay $5.77-per-share dividend

GREELEY – Pilgrim’s Pride Corp. (Nasdaq: PPC), a Greeley-based chicken processor, said it will issue a special dividend totaling $1.5 billion to shareholders.

Pilgrim’s Pride will issue a cash dividend of $5.77 payable Feb. 17 to shareholders of record on Jan. 30, 2015. The company issued the dividend following improvements in its capital structure.

“The board’s decision to approve the special dividend payments is a testament to this strategy, our financial discipline and our confidence in the future,” CEO Bill Lovette said in a statement. “We will continue on our path to generate shareholder value with an improved capital structure while maintaining the flexibility to pursue our growth strategy.”

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Company shares surged nearly 10 percent to close at $34.57 on Thursday.

Pilgrim’s Pride also said that it will hold its 2014 earnings call and webcast 7 a.m. Feb. 12.

Investors can register for the webcast to gain immediate access to the call and bypass the live operator by accessing the Investor section of www.pilgrims.com, and clicking on the link under “Upcoming Events.”

Participants who wish to join the call but who have not registered can do so on the day of the event by dialing (877) 270-2148 within the U.S., or (412) 902-6510 internationally, and requesting the “Pilgrim’s Pride Conference.”

The webcast will be available for replay on Pilgrim’s website two hours after the call ends, and will remain available through May 12. The webcast replay will be accessible through the “Investors” section of www.pilgrims.com, as well as by dialing (877) 344-7529 in the U.S., or (412) 317-0088 internationally, and requesting conference number 10059127.

Pilgrim’s Pride employs about 35,000 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. Greeley-based JBS USA, a subsidiary of Brazilian meatpacker JBS S.A., owns a controlling interest in Pilgrim’s Pride.