Oil-Dri Raises Dividend 10% to $0.225, Approves 500,000 Share Buyback
ODC•Oil-Dri increased its quarterly dividend by two cents to $0.225 for common shares and $0.168 for Class B shares, marking 23 years of consecutive dividend growth and a roughly 10% hike. The board authorized repurchase of up to 500,000 common shares in addition to over 380,000 shares still available.
1. Dividend Increase Details
The board approved a two-cent increase in quarterly cash dividends to $0.225 per common share and $0.168 per Class B share, representing approximately a 10% rise. This marks the 23rd consecutive year of dividend growth, reflecting the company’s sustained fiscal strength since initiating payouts in 1974.
2. Share Repurchase Authorization
Directors authorized repurchase of up to 500,000 common shares under the new program, adding to 172,261 common and 208,197 Class B shares still available from prior authorizations. Repurchases may occur in open-market or privately negotiated transactions at management’s discretion.
3. Capital Allocation Strategy
Management highlighted confidence in the company’s outlook and commitment to disciplined capital allocation through elevated dividends and expanded buybacks. The actual timing and volume of repurchases will depend on market price, economic conditions, and strategic considerations.
4. Upcoming Earnings Discussion
Oil-Dri will release its third-quarter fiscal 2026 performance report after market close on June 8, 2026, followed by a live webcast on June 9 at 10:00 a.m. Central Time to discuss results and outlook.
