Green Plains Renewable Energy announced Thursday its first cash dividend to shareholders in company history.
The Omaha-based ethanol producer approved the first quarterly cash dividend with an initial dividend of $0.04 per common share to be paid on Sept. 26 to all shareholders as of September 5. President and CEO Todd Becker said that with four consecutive years of profitable operations, the company believes now is the right time to start a quarterly dividend.
“Going forward,” he said, “we intend to continue our focus on strengthening and diversifying our business, with an emphasis on organic growth and accretive acquisitions, which we believe will contribute to long-term shareholder value.”
The company’s board of directors expects declaring this dividend in future quarters on a regular basis, noting they are subject to the board’s approval and may be adjusted according to business needs or market conditions.
Green Plains is the the fourth-largest ethanol producer in the U.S. and markets and distributes about 1 billion gallons of ethanol each year.