The previously published note contained inaccuracies in the text. Agricultural and Oilseed Services Division revenue was US$18.080 billion, not US$18.080 million as reported. Here is the correct version of the text:
São Paulo, 25 – Agricultural commodities trading company Archer Daniels Midland (ADM), based in the United States, posted net income of US$ 782 million, or US$ 1.38 per share, in the fourth quarter of 2021, the company said on Tuesday. -market. The result represents an increase of 13.8% compared to US$ 687 million, or US$ 1.22 per share, registered in the same period of the previous year.
In adjusted terms, earnings were $1.50 per share, well above the expectation of analysts polled by FactSet of $1.32 per share. Revenue rose 28.4% to $23.09 billion, beating analysts’ expectations of $20.21 billion.
“As we head into 2022, we are well positioned to capitalize on strong crush margins,” Chief Executive Juan Luciano said in a statement. The outlook is boosted by items such as “vegetable oil as a raw material for renewable green diesel” and ethanol.
The company said its board increased the quarterly dividend by 8.1%, from 37 cents a share to 40 cents a share.
The new payment, equal to $1.60 a year, represents an annual yield of about 2.33% based on yesterday’s (24) closing price of $68.59, up from 2.16%.
The Chicago agribusiness giant said the increased dividend is due March 1 to shareholders of record on February 8.
Revenue from the Agricultural and Oilseed Services Division, which covers the purchase, transportation and storage of agricultural products, as well as the processing of soybeans and other oilseeds, increased 25.8% in the fourth quarter compared to the same period in 2020, to US$18.080 billion.
In the carbohydrate solutions segment, which includes starches and sweeteners and ethanol, revenue was $3.20 billion, up 54.4% year-on-year. Revenue in the nutrition segment grew 19.2% to $1.719 billion.
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