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ConAgra Foods Inc. (NYSE:CAG - News), one of North America's leading packaged food companies, announced today that its finance subsidiary, ConAgra Capital, L.C., will redeem all 7 million of its Series B Adjustable Rate Cumulative Preferred Securities on Feb. 3, 2005. The Series B preferred securities, the remaining publicly owned securities of ConAgra Capital, are traded on the New York Stock Exchange under the symbol CAG PrB.
Each of the Series B preferred securities will be redeemed at $25.00 plus accumulated and unpaid dividends of approximately $0.0104, for a total payment of approximately $25.0104 per security, an aggregate redemption price of approximately $175 million. The last regular monthly dividend on the Series B preferred securities will be paid on Jan. 31, 2005 to holders of record as of Jan. 28, 2005.
The preferred securities are in book-entry form and will be paid through the Depository Trust Company. Wells Fargo Shareowner Services, 161 N. Concord Exchange, St. Paul, MN 55075, will act as paying agent for the redemption.
Questions about the impact of this notice on specific individual or institutional investment accounts should be directed to the financial institution(s) representing those accounts. ConAgra Foods Shareholder Services, at (800) 214-0349, is also available for questions regarding the redemption.
ConAgra Foods Inc. (NYSE:CAG - News) is one of North America's largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: ACT II, Armour, Banquet, Blue Bonnet, Brown 'N Serve, Butterball, Chef Boyardee, Cook's, Crunch 'n Munch, DAVID, Decker, Eckrich, Egg Beaters, Fleischmann's, Golden Cuisine, Gulden's, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, Knott's Berry Farm, La Choy, Lamb Weston, Libby's, Life Choice, Lightlife, Lunch Makers, MaMa Rosa's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Pemmican, Peter Pan, Reddi-wip, Rosarita, Ro*Tel, Slim Jim, Snack Pack, Swiss Miss, Van Camp's, Wesson, Wolf, and many others. For more information, please visit us at www.conagrafoods.com.
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Contact:
ConAgra Foods Inc., Omaha
Media:
Chris Kircher, 402-595-5392
or
Analysts:
Chris Klinefelter, 402-595-4154
www.conagrafoods.com
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Source: ConAgra Foods Inc.
Source: Business Wire via Yahoo
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