June 26, 2006

Nutreco pays out US$377 million in dividends

Nutreco, the Dutch poultry processor, is paying EUR300 million (US$377.2 million) in dividends while starting a EUR50 million (US$62.8 million) share-buyback scheme.

With the sale of Marine Harvest, Nutreco has completed its ¡®Rebalancing for Growth¡¯ strategy. The company now wants to focus on strategic growth by optimising its capital structure and acquisitions.

Nutreco, one of the world¡¯s leading companies in animal nutrition and fish feed, aims to expand these sectors through key growth markets in Central and Eastern Europe, Asia, and the Americas, its statement said. Not forgetting development at home, it would also actively participate in the consolidation of the animal nutrition market in Western Europe.

Nutreco is cash-rich after receiving prepayment of EUR881 million (US$1.1 billion) on the sale of the 75 percent participation in Marine Harvest and the full redemption of the shareholder¡¯s loan to Marine Harvest.

Currently, its net cash position stands at about EUR600 million.

Nutreco said it would announce possible acquisitions and likely next steps throughout this year. The company expects to finalise its capital structure optimisation in 2007.