The J. M. Smucker Company (SJM) Declares Special Dividend of $5/Share in Connection with Folgers Deal
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The J. M. Smucker Company (NYSE: SJM) announced today that it will pay a special dividend of $5.00 per common share on Friday, October 31, 2008 to all shareholders of record at the close of business on Tuesday, September, 30, 2008.
This one time special dividend is being paid to Smucker shareholders in connection with the transaction announced on June 4, 2008 to merge the Folgers coffee business into Smucker.
The transaction which is expected to be accretive to Smucker earnings is anticipated to close in Q408 subject to customary closing conditions including Smucker shareholder approval.
The J. M. Smucker Company engages in the manufacture and marketing of branded food products in the United States, Canada, and internationally.
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