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SECURITY: DF (Common)
EXCHANGE: New York Stock Exchange CURRENCY: US Dollar
Dean Foods Company is
one of the nation's leading food and beverage companies. The company produces
a full line of company-branded and private label dairy and dairy-related
products such as milk and milk-based beverages, ice cream, coffee creamers,
half and half, whipping cream, whipped toppings, sour cream, cottage cheese,
yogurt, dips, dressings and soy milk. The company is also a leading supplier
of pickles and other specialty food products, juice, juice drinks and water
http://www.deanfoods.com/investors
Dean
Foods Announces Resignation of Board Member Alan J. Bernon
DALLAS,
May 29 /PRNewswire-FirstCall/ -- Dean Foods Company (NYSE: DF) announced
today that Alan J. Bernon has resigned from the Board of Directors to concentrate
on other business and philanthropic interests. Dean Foods has no present
plans to fill the vacancy.
"We
appreciate the many years of valuable service that Alan has given to Dean
Foods, both as a board member and member of our management team," said
Gregg Engles, Chairman and CEO of Dean Foods. "We wish to thank Alan for
his dedicated service to the Company's shareholders, customers and employees
and wish him the best in all future endeavors."
Dean
Foods Company Announces Webcast of Fourth Quarter and Year End Earnings
Conference Call
DALLAS,
Feb. 5 /PRNewswire-FirstCall/ -- Dean Foods Company (NYSE: DF) will host
a live audio webcast of its fourth quarter and year end earnings conference
call on February 13, 2008 at 9:30 a.m. ET. Management will discuss the
results for the fourth quarter and the outlook for 2008. An earnings release
will be issued before the market opens on the same date
Dean
Foods Announces Executive Promotions
Harrald
Kroeker Named President, Direct Store Delivery Group
Michelle
Goolsby Named EVP, Development, Sustainability and Corporate Affairs
Greg
McKelvey Named SVP, Strategy and Marketing Services
DALLAS,
Jan. 23 /PRNewswire-FirstCall/ -- Gregg L. Engles, Chairman and Chief Executive
Officer, Dean Foods Company (NYSE: DF) today announced several changes
to the Dean Foods' Executive Team. The changes are effective immediately
Dean
Foods Announces Completion of New $4.8 Billion Senior Credit Facility and
Return of $1.94 Billion to Shareholders Through Special Cash Dividend of
$15.00 Per Share
DALLAS,
April 2, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Dean Foods
Company (NYSE: DF) today announced the successful recapitalization of its
balance sheet through the completion of $4.8 billion of new senior credit
facilities and the return of $1.94 billion to shareholders through a $15.00
per share special dividend.
The
new facilities consist of a combination of a $1.5 billion 5-year senior
secured revolving credit facility, a $1.5 billion 5-year senior secured
term loan A, and a $1.8 billion 7-year senior secured term loan B. The
Company also replaced its receivables facility with a new three year, $600
million receivables facility. The Company's publicly traded notes will
remain outstanding without modification.
The
special dividend declared by Dean Foods' Board of Directors was paid today
to shareholders of record as of March 27, 2007. Shareholders who sell their
shares prior to the April 3, 2007 ex-dividend date will also be selling
their right to receive the special dividend. Dean Foods common stock will
start trading on an ex-dividend basis beginning tomorrow, April 3, 2007,
in accordance with NYSE rules. Shareholders are advised to contact their
financial advisor for advice regarding their individual situations.
The
total number of basic shares outstanding at the close of trading on the
record date of March 27, 2007 was 129.6 million, resulting in a total aggregate
dividend of $1.94 billion.
For
U.S. federal income tax purposes, shareholders will receive a Form 1099-DIV
in early 2008 to notify them of the division between the dividend and non-dividend
portions of the special dividend. The process of determining these amounts,
which entails a comprehensive review and analysis of the Company's financial
history, is well underway. Shareholders are encouraged to consult with
their own tax and financial advisors regarding the implications of this
special dividend.
The
$4.8 billion fully underwritten financing package was arranged by J.P.
Morgan Securities Inc., Banc of America Securities LLC, and Wachovia Capital
Markets, LLC..
Dean
Foods Announces Plan to Return Approximately $2.0 Billion to Shareholders
Through Special Cash Dividend of $15.00 Per Share
Reflects
Strong Confidence in Business and Future Cash Flows; Commitment to Enhancing
Shareholder Value Financed By $4.8 Billion Senior Secured Credit Facility
DALLAS,
March 2, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Dean Foods
Company (NYSE: DF) today announced plans to return $15.00 per share to
shareholders through a one-time special cash dividend totaling approximately
$2 billion. The special dividend will be financed by a recapitalization
of the Company's balance sheet through $4.8 billion in new senior secured
credit facilities.
"Dean
Foods is an organization with strong momentum as reflected in our 2006
results and positive outlook for 2007," said Gregg Engles, Chairman and
Chief Executive Officer. "Over the past several years we've consolidated
the industry and developed a leading market position through significant
strategic acquisitions and investments in building out our branded portfolio.
With this platform in place, we are now entering the next phase of our
evolution. Over the next few years, we will be focused primarily on leveraging
our scale to drive internal growth through maximizing productivity and
efficiencies across our business."
Engles
continued, "Given our internal focus, our strong cash flows, and the incredible
liquidity and flexibility of today's debt capital markets, the appropriate
finance decision for Dean Foods today is to increase our exposure to the
debt markets and return equity capital to shareholders, while enabling
them to continue to participate in the Company's future performance and
growth."
Dean
Foods Company Reports Third Quarter Results
Company
Reports GAAP Earnings From Continuing Operations of $0.54 per Share;
Adjusted Earnings of $0.56 per Share
GAAP
Operating Income Increases 22%; Adjusted Operating Income Growth of 12%
DALLAS,
Nov. 7 /PRNewswire-FirstCall/ -- Dean Foods Company (NYSE: DF) today announced
that the Company earned $0.54 per diluted share from continuing operations
for the quarter ended September 30, 2006, as compared to $0.40 per diluted
share from continuing operations for the quarter ended September 30, 2005.
On an adjusted basis (as defined below), diluted earnings per share were
$0.56, an increase of 19% from $0.47 in last year's third quarter.
Consolidated
operating income from continuing operations in the third quarter totaled
$169 million, an increase of 22% from $138 million in the third quarter
of 2005. Adjusted third quarter operating income totaled $174 million,
an increase of 12% from $156 million in the third quarter of 2005. The
adjusted third quarter operating margin was 6.92%, up 85 basis points versus
the third quarter last year.
Net
income from continuing operations for the third quarter totaled $74 million,
compared with $62 million in the prior year third quarter. Adjusted net
income for the third quarter was $78 million, 6% higher than the $73 million
reported in the third quarter of 2005.
Net
sales for the third quarter totaled $2.5 billion, a decrease of 2% from
the third quarter of 2005, due to the pass through of lower raw dairy input
costs, partially offset by fluid milk volume growth at the Dairy Group
and continued sales growth at WhiteWave Foods.
"I
am very pleased with the operating profit and earnings per share growth
in the third quarter," said Gregg Engles, chairman and chief executive
officer. "Our portfolio of businesses continues to perform well, with especially
robust results from the Dairy Group this quarter. WhiteWave Foods posted
solid sales growth, while making considerable progress against its supply
chain and information technology initiatives. As we look forward to 2007,
we are confident that we are well positioned for sustained double-digit
EPS growth."
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