030917 Sanderson Farms Increase in Quarterly DividendSeptember 30, 2003Laurel, MS - Sanderson Farms, Inc. announced that its Board of Directors has declared a special dividend of $0.50 (fifty cents) per share. In addition, the Board of Directors has declared a regular quarterly dividend of $0.12 (twelve cents) per share, representing a 20% increase over the last quarterly dividend and reflecting a new annual dividend rate of $0.48 (forty-eight cents) per share. Both the special dividend and the regular quarterly dividend are payable October 28, 2003, to stockholders of record on October 14, 2003. Payment of the regular quarterly dividend will remain subject to Board approval each quarter. "The Board's decision to declare a special dividend and increase our regular dividend reflects Sanderson Farms' solid operating performance in fiscal 2003 as well as the Company's strong financial position," commented Joe F. Sanderson, Jr., president and chief executive officer of Sanderson Farms. "We have continued to balance our growth over the past decade with conservative financial management. Excellent execution of our operating strategy has greatly increased our cash flow potential and allowed us to reduce our long-term debt by over $27 million during the year. We are pleased that our progress has enabled the Board to take these actions and provided this opportunity to reward our shareholders."
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