The Andersons, Inc.
According to President and Chief Executive Officer Mike Anderson, "Our earnings outlook for 2005 has increased primarily because of strong fourth quarter performances in our grain, plant nutrient and rail businesses. We now believe that our current year earnings will exceed our previous projections. After the first of the year, we'll be in a better position to estimate our actual results, but at this time it appears that our 2005 earnings will exceed the upper end of our previous guidance."
The company also announced that its board of directors has authorized a cash dividend of eight and one-half cents per common share to be paid on January 23, 2006 to holders of record as of January 3, 2006. This is The Andersons' 37th consecutive quarterly cash dividend since its listing on Nasdaq on February 20, 1996. There are approximately 7.5 million common shares outstanding.
The Andersons, Inc. is a diversified company with interests in the grain and plant nutrient sectors of U.S. agriculture, as well as in railcar marketing, industrial products formulation, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company presently has operations in seven U.S. states plus rail equipment leasing interests in Canada and Mexico.
This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.
The Andersons, Inc. is located on the Internet at http://www.andersonsinc.com/
SOURCE: The Andersons, Inc.
CONTACT: Gary Smith of The Andersons, Inc., +1-419-891-6417
Web site: http://www.andersonsinc.com/