ARCHER DANIELS MIDLAND CO. $59 is a hold. The company (New York symbol ADM; High-Growth Payer Portfolio, Manufacturing sector; Shares outstanding: 478.1 million; Market cap: $28.2 billion; Dividend yield: 3.3%; Dividend Sustainability Rating: Above Average; www.adm.com) processes corn, wheat, soybeans, flax seed and other crops into a variety of food ingredients such as flour, oils and sweeteners.
With the February 2024 payment, Archer raised your quarterly dividend by 11.1%, to $0.50 a share from $0.45. The annual rate of $2.00 a share yields 3.4%.
In the three months ended June 30, 2024, the company’s revenue decreased by 11.7%, to $22.25 billion from $25.19 billion a year earlier. Revenues were down significantly at its Ag Services and Oilseeds segment (78% of the total) as lower selling prices offset higher volumes. Excluding unusual items, earnings fell 50.7%, to $508 million from $1.03 billion. Due to fewer shares outstanding, earnings per share declined at a slower rate of 45.5%, to $1.03 from $1.89.
Archer Daniels Midland is a hold.
RTX CORP…
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Changes to this Policy
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