Oil-Dri Corporation of America Announces Board Changes; Declares Quarterly Cash Dividends, Payable on August 30, 2019
June 12, 2019 at 04:07 pm EDT
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Oil-Dri Corporation of America announced that effective June 12, 2019, John Steven Cole, President, Cole & Associates will retire from the company's Board of Directors. Paul M. Hindsley, Managing Director and Partner, William Blair & Company, has been appointed to replace Mr. Cole on its Board and Audit Committee. Paul M. Hindsley is currently Managing Director and Partner, Investment Banking at William Blair & Company where he specializes in merger & acquisitions and equity & debt transactions.
In addition to the board member changes, the Board of Directors declared quarterly cash dividends of $0.25 per share of the Company's Common Stock and $0.1875 per share of the Company's Class B Stock, an approximate 4% increase for both classes of stock. The dividends declared will be payable on August 30, 2019 to stockholders of record at the close of business on August 16, 2019.
Oil-Dri Corporation of America manufacturer and supplier of specialty sorbent products for pet care, animal health and nutrition, fluid purification, agricultural ingredients, sports field, industrial and automotive markets. Its principal product is cat litter. The Companyâs Retail and Wholesale Products Group segment customers include mass merchandisers, the farm and fleet channel, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies, sports field product users and marketers of consumer products. Its Business to Business Products Group segment customers include processors and refiners of edible oils, renewable diesel, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; and distributors of animal health and nutrition products. It is also a supplier of silica gel-based crystal cat litter.