LAUREL, Miss. – Sanderson Farms Inc. declared a regular quarterly cash dividend of 22 cents per share, which represents a new annual dividend rate of 88 cents per share, according to the company.

The board of directors also authorized a special cash dividend payment of 50 cents per share. Both the quarterly cash dividend and the special cash dividend are payable on Oct. 1 to stockholders of record on Sept. 30.

“The board’s decision to approve these dividend payments reflects Sanderson Farms’ solid operating performance, our strong financial position, and our confidence in the future, said Joe Sanderson, chairman and CEO. “We are very pleased to provide these additional opportunities to reward our shareholders. We will continue to maintain a strong balance sheet that supports our business and provides the flexibility to pursue our growth strategy.”