UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) April 30, 2019

Seaboard Corporation

(Exact name of registrant as specified in its charter)

 

 

 

 

 

Delaware

 

1-3390

 

04-2260388

(State or other jurisdiction of

 

(Commission

 

(I.R.S. Employer

incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

9000 West 67th Street, Merriam, Kansas

 

66202

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code    (913) 676-8800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 


 

 

Item 2.02  Results of Operations and Financial Condition

On April 30, 2019, the Registrant issued a press release announcing earnings for the quarter ended March 30, 2019 and the Board of Directors’ declaration of a quarterly cash dividend of $2.25 per share of common stock, payable on May 21, 2019, to stockholders of record at the close of business on May 10, 2019. The full text of this press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information furnished pursuant to Item 2.02, and the related press release included as Exhibit 99.1 to this Current Report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01  Financial Statements and Exhibits

(d)   Exhibits

99.1 Press release of Seaboard Corporation dated April 30, 2019 announcing earnings for the quarter ended March 30, 2019 and a declaration of a dividend

 

2


 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

 

 

 

 

Date: April 30, 2019

 

 

 

 

 

 

 

 

Seaboard Corporation

 

 

 

 

(Registrant)

 

 

 

 

 

 

 

 

By:

/s/ Robert L. Steer

 

 

 

 

Robert L. Steer, Executive Vice President,

 

 

 

 

Chief Financial Officer

 

3


seb_ex_99_1

Exhibit 99.1

 

PRESS RELEASE

REPORT OF EARNINGS AND DIVIDEND DECLARATION

 

April 30, 2019 

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 three months ended March 30, 2019 and March 31, 2018, in millions of dollars except share and per share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 30,

 

March 31,

 

 

    

2019

    

2018

 

Net sales

 

$

1,543

 

$

1,579

 

Net earnings attributable to Seaboard

 

$

57

 

$

32

 

 

 

 

 

 

 

 

 

Earnings per common share

 

$

48.79

 

$

26.75

 

Average number of shares outstanding

 

 

1,167,430

 

 

1,170,550

 

Dividends declared per common share

 

$

2.25

 

$

1.50

 

Notes to Report of Earnings:

For the three months ended March 30, 2019 and March 31, 2018,  net earnings attributable to Seaboard included other investment income of $113 million and other investment loss of $37 million, respectively. Included in other investment income for the three months ended March 30, 2019 was $104 million of non-cash, unrealized mark-to-market gains on short-term investments. 

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 May 21, 2019 to stockholders of record at the close of business on May 10, 2019.

Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.