Exhibit 99.1

 

PRESS RELEASE

REPORT OF EARNINGS AND DIVIDEND DECLARATION

 

February 20, 2019 

Merriam, Kansas

 

The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three and twelve months ended December 31, 2018 and December 31, 2017, in millions of dollars except share and per share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

 

December 31,

 

December 31,

 

December 31,

 

December 31,

 

 

    

2018

    

2017

    

2018

    

2017

 

Net sales

 

$

1,662

 

$

1,586

 

$

6,583

 

$

5,809

 

Net earnings (loss) attributable to Seaboard

 

$

(91)

 

$

23

 

$

(17)

 

$

247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per common share

 

$

(77.58)

 

$

19.38

 

$

(14.61)

 

$

211.01

 

Average number of shares outstanding

 

 

1,170,359

 

 

1,170,550

 

 

1,170,501

 

 

1,170,550

 

Dividends declared per common share

 

$

1.50

 

$

1.50

 

$

6.00

 

$

6.00

 

Notes to Report of Earnings:

For the three months ended December 31, 2018 and 2017,  net earnings (loss) attributable to Seaboard included other investment loss of $167 million and other investment income of $58 million, respectively. Included in other investment loss for the three months ended December 31, 2018 was $122 million of non-cash, unrealized mark-to-market losses on short-term investments. For the twelve months ended December 31, 2018 and 2017, net earnings (loss) attributable to Seaboard included other investment loss of $152 million and other investment income of $177 million, respectively.

Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on March 14, 2019 to stockholders of record at the close of business on March 4, 2019.

Seaboard Corporation today filed its Annual Report on Form 10-K with the United States Securities and Exchange Commission. Seaboard has provided access to the Annual Report on Form 10-K on its website at https://www.seaboardcorp.com/investors.

 


The following information was filed by Seaboard Corp (SEB) on Wednesday, February 20, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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