0000088121-18-000010.txt : 20180221 0000088121-18-000010.hdr.sgml : 20180221 20180221160623 ACCESSION NUMBER: 0000088121-18-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180221 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180221 DATE AS OF CHANGE: 20180221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEABOARD CORP /DE/ CENTRAL INDEX KEY: 0000088121 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 042260388 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03390 FILM NUMBER: 18628417 BUSINESS ADDRESS: STREET 1: 9000 W. 67TH STREET CITY: SHAWNEE MISSION STATE: KS ZIP: 66202 BUSINESS PHONE: 9136768800 MAIL ADDRESS: STREET 1: 9000 W. 67TH STREET CITY: SHAWNEE MISSION STATE: KS ZIP: 66202 FORMER COMPANY: FORMER CONFORMED NAME: SEABOARD ALLIED MILLING CORP DATE OF NAME CHANGE: 19820328 FORMER COMPANY: FORMER CONFORMED NAME: HATHAWAY BAKERIES INC DATE OF NAME CHANGE: 19710315 8-K 1 seb-20180221x8k.htm SEABOARD CORPORATION 8-K DATED FEBRUARY 21, 2018 seb_currentfolio_8K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) February 21, 2018

Seaboard Corporation

(Exact name of registrant as specified in its charter)

 

 

 

 

 

Delaware

 

1-3390

 

04-2260388

(State or other jurisdiction of

 

(Commission

 

(I.R.S. Employer

incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

9000 West 67th Street, Merriam, Kansas

 

66202

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code    (913) 676-8800

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 2.02  Results of Operations and Financial Condition

On February 21, 2018, the Registrant issued a press release announcing earnings for the quarter and year ended December 31, 2017, and the Board of Directors’ declaration of a quarterly cash dividend of $1.50 per share of common stock, payable on March 15, 2018, to stockholders of record at the close of business on March 5, 2018. The full text of this press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information furnished pursuant to Item 2.02, and the related press release included as Exhibit 99.1 to this Current Report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01  Financial Statements and Exhibits

(d)   Exhibits

99.1 Press release of Seaboard Corporation dated February 21, 2018, announcing earnings for the quarter and year ended December 31, 2017 and a declaration of a dividend. 

 

2

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

 

 

 

 

Date: February 21, 2018

 

 

 

 

 

 

 

 

Seaboard Corporation

 

 

 

 

(Registrant)

 

 

 

 

 

 

 

 

By:

/s/ Robert L. Steer

 

 

 

 

Robert L. Steer, Executive Vice President,

 

 

 

 

Chief Financial Officer

 

3

EX-99.1 2 seb-20180221ex991ba4664.htm SEABOARD CORPORATION PRESS RELEASE, REPORT OF EARNINGS AND DIVIDEND DECLARATION seb_ex_99_1

Exhibit 99.1

 

PRESS RELEASE

REPORT OF EARNINGS AND DIVIDEND DECLARATION

 

February 21, 2018 

Merriam, Kansas

 

The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three and twelve months ended December 31, 2017 and December 31, 2016, in millions of dollars except share and per share amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

 

December 31,

 

December 31,

 

December 31,

 

December 31,

 

 

    

2017

    

2016

    

2017

    

2016

 

Net sales

 

$

1,586

 

$

1,373

 

$

5,809

 

$

5,379

 

Net earnings attributable to Seaboard

 

$

23

 

$

103

 

$

247

 

$

312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

$

19.38

 

$

87.83

 

$

211.01

 

$

266.50

 

Average number of shares outstanding

 

 

1,170,550

 

 

1,170,550

 

 

1,170,550

 

 

1,170,550

 

Dividends declared per common share

 

$

1.50

 

$

 —

 

$

6.00

 

$

 —

 

Notes to Report of Earnings and Dividend Declaration:

In the fourth quarter of 2017, Seaboard Corporation recorded  $65 million of additional income tax expense, or $55.31 per common share, as a result of the December 22, 2017 enactment of the Tax Cuts and Job Act. The additional income tax expense includes a provisional $112 million of additional federal tax, payable over eight years, associated with the mandatory deemed repatriation of permanently invested foreign profits, offset by an estimated reduction in deferred taxes resulting from the rate decrease from 35% to 21%.

Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $1.50 per share of its common stock. The dividend is payable on March 15, 2018, to stockholders of record at the close of business on March 5, 2018.

Seaboard Corporation today filed its Annual Report on Form 10-K with the United States Securities and Exchange Commission. Seaboard has provided access to the Annual Report on Form 10-K on its website at https://www.seaboardcorp.com/investors.