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Exhibit 99.1
PRESS RELEASE
REPORT OF EARNINGS AND DIVIDEND DECLARATION
February 13, 2024
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 quarters and years ended December 31, 2023 and December 31, 2022, in millions of dollars except share and per share amounts.
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | Three Months Ended | | Years Ended | | ||||||||
| | December 31, | | December 31, | | December 31, | | December 31, | | ||||
|
| 2023 |
| 2022 |
| 2023 |
| 2022 |
| ||||
Net sales | | $ | 2,282 | | $ | 2,666 | | $ | 9,562 | | $ | 11,243 | |
Operating income (loss) | | $ | (87) | | $ | 164 | | $ | (87) | | $ | 657 | |
Net earnings attributable to Seaboard | | $ | 64 | | $ | 223 | | $ | 226 | | $ | 580 | |
| | | | | | | | | | | | | |
Earnings per common share | | $ | 64.67 | | $ | 192.11 | | $ | 202.21 | | $ | 499.66 | |
Average number of shares outstanding | |
| 989,615 | |
| 1,160,779 | |
| 1,117,636 | |
| 1,160,779 | |
Dividends declared per common share | | $ | 2.25 | | $ | 2.25 | | $ | 9.00 | | $ | 9.00 | |
Seaboard Corporation today filed its Annual Report on Form 10-K with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Annual Report on Form 10-K on its website at https://www.seaboardcorp.com/investors.
Also, 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 4, 2024 to stockholders of record at the close of business on February 23, 2024.
