Pro-Fac Cooperative, Inc. (Nasdaq:PFACP), an agricultural cooperative, recently announced a $.20 per share dividend, payable February 1, 2010, to shareholders of record of its Class A cumulative preferred stock at the close of business on January 15, 2010.
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As previously announced, on December 23, 2009 Pro-Fac received a distribution of approximately $238 million from Birds Eye Holdings, LLC upon the closing of the sale of Birds Eye Foods, Inc. to the Pinnacle Foods Group. The Pro-Fac Board of Directors will be evaluating potential uses for the cash received from this transaction, including distributions to Pro-Fac members and other stakeholders, and expects to make a further announcement when a course of action is determined. Pro-Fac Cooperative is an agricultural cooperative that markets crops grown by its member-growers, including fruits (cherries, apples, blueberries, and peaches), vegetables (snap beans, dry beans, beets, peas, sweet corn, carrots, cabbage, squash, asparagus and potatoes) and popcorn. Only growers of crops marketed through Pro-Fac (or associations of such growers) can become members of Pro-Fac. Pro-Fac's Class A cumulative preferred stock is listed on the Nasdaq Capital Market under the stock symbol, "PFACP
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