News Release
ConAgra Foods Begins 30th Consecutive Year of Dividend Increases
OMAHA, Neb.--(BUSINESS WIRE)--Sept. 23, 2004--Today the board of directors of ConAgra Foods Inc. (NYSE:CAG) announced the 30th consecutive year of dividend increases by raising the annualized dividend to $1.09 per share from $1.04 per share currently. This represents an increase of 4.8%. As a result of this increase, dividends of $0.2725 per share will be paid on Dec. 1, 2004, to shareholders of record on Nov. 1, 2004; this will be the first quarterly dividend at the $0.2725 rate.
Bruce Rohde, chairman and CEO, commented, "ConAgra Foods is a very strong and healthy company that generates significant cash flow. Dividends have long been a part of our capital allocation discipline. That approach has resulted in a very strong dividend that has increased every year for the past 30 years. We are proud of this track record, and believe it serves our shareholders well."
ConAgra Foods Inc. (NYSE:CAG) is one of North America's largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: ACT II, Armour, Banquet, Blue Bonnet, Brown 'N Serve, Butterball, Chef Boyardee, Cook's, Crunch 'n Munch, DAVID, Decker, Eckrich, Egg Beaters, Fleischmann's, Golden Cuisine, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Lamb Weston, Libby's, Life Choice, Lightlife, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Pemmican, Peter Pan, Reddi-wip, Rosarita, Ro*Tel, Slim Jim, Snack Pack, Swiss Miss, Van Camp's, Wesson, Wolf, and many others. For more information, please visit us at www.conagrafoods.com.
Note on Forward-Looking Statements:
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. 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, future economic circumstances, industry conditions, company performance and financial results, availability and prices of raw materials, product pricing, competitive environment and related market conditions, operating efficiencies, 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.
CONTACT: ConAgra Foods Inc., Omaha Media: Chris Kircher, 402-595-5392 or Analysts: Chris Klinefelter, 402-595-4154 www.conagrafoods.com SOURCE: ConAgra Foods Inc.
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