Oil-Dri Posts Record Q3 Revenue, Boosts Dividend and Buyback

Oil-Dri Corp of America (NYSE:ODC) posted record third-quarter revenue of $126.33 million, a 9% increase from the prior year. CEO Daniel Jaffee said the company returned to growth after two quarters of difficult year-over-year comparisons. Net income rose 25% as disciplined expense management offset ongoing cost-of-goods-sold inflation.

The board raised the quarterly dividend by roughly 10% to $0.225 per common share and $0.168 per Class B share. The increase extends a dividend streak that now runs 23 years, according to company filings. The dividend is payable Aug. 21 to holders of record Aug. 7. Directors also authorized the repurchase of up to 500,000 common shares, supplementing stock still available under prior authorizations.

Oil-Dri mines specialty minerals and produces cat litter under the Cat's Pride and Jonny Cat brands, alongside private-label offerings. The Chicago-based company, founded in 1941, operates in the Basic Materials sector. Jaffee said strong cash generation supported the capital-return moves. The company expects to meet its annual plan and surpass the previous year's net income.

Input and transportation costs remain a concern, as does geopolitical uncertainty, Jaffee added. The report offered few surprises beyond the step-up in shareholder returns.

AlphaScala's system has not assigned a proprietary Alpha Score to ODC, which remains in the Unscored category. Details on the dividend history and the new buyback are covered in a separate article. The ODC stock page includes the full corporate profile and financials.