Oil-Dri Posts $22 Million Q2 EBITDA and Approves $0.205–$0.153 Dividend
Oil-Dri reported Q2 fiscal 2026 EBITDA of $22 million, steady year-over-year, with $47 million in cash exceeding $40 million debt and over $28 million in six-month operating cash flow. The board declared quarterly dividends of $0.205 per common share and $0.153 per Class B share, marking a 22nd annual increase.
1. Q2 financial performance
Oil-Dri delivered Q2 fiscal 2026 EBITDA of $22 million, matching the prior year, with operating cash flows surpassing $28 million year-to-date. The balance sheet strengthened as $47 million in cash and equivalents exceeded $40 million of outstanding debt, highlighting solid liquidity and debt management.
2. Dividend declaration and history
The board declared a quarterly cash dividend of $0.205 per common share and $0.153 per Class B share, payable May 22 to holders of record on May 8. This marks the 22nd consecutive annual dividend increase, underlining the company’s commitment to shareholder returns.
3. Operational resilience and segment growth
Operations navigated winter storm Fern with safety protocols, though some production and cost pressures occurred. The agriculture and horticulture segments expanded on increased planted acres and new customer wins, while Amlan International faced a rough quarter from the loss of a key account and manufacturing costs rose on labor inputs and benefits.
4. Capital expenditure program
The multi-year capex initiative is on schedule to modernize the mine fleet and core processing assets. Management anticipates continued investment over a three- to five-year horizon, focusing on long-term asset replacement and operational flexibility to support future growth.