The Andersons, Inc. Announces Approval of Share Increase, Cash Dividend
May 7, 2010
The Andersons, Inc.
The number of authorized shares of common stock, no par value, will increase by 17 million shares from 25 million to 42 million shares. The Company's current 1 million shares of authorized preferred stock, no par value, remain unchanged. The Company, at this time, has no plans to issue the additional common shares.
Immediately following the Annual Meeting, the Company's Board of Directors approved a third quarter 2010 cash dividend of 9.0 cents ($0.09) payable July 22, 2010, to shareholders of record on July 1, 2010.
This is The Andersons' 55th consecutive quarterly cash dividend since its listing on the Nasdaq on February 20, 1996. There are approximately 18.3 million common shares outstanding.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations across the United States, in Puerto Rico, and has rail equipment leasing interests in Canada and Mexico. For more information, visit The Andersons online at www.andersonsinc.com.
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SOURCE: The Andersons, Inc.
CONTACT: Nicholas C. Conrad, VP, Finance & Treasurer of The Andersons,
Web Site: http://www.andersonsinc.com/