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SunOpta Exercises Option to Acquire Remaining Shares of Organic Ingredients, Inc.

SunOpta Inc. (“SunOpta” or “Company”) (Nasdaq:STKL – News; TSX:SOY – News) yesterday announced that it has exercised its option to purchase the remaining 49.9% of the outstanding shares of Organic Ingredients, Inc. (Organic Ingredients) of Aptos, California. SunOpta initially acquired 50.1% of the outstanding shares of Organic Ingredients on September 10, 2004, with an option to acquire the remaining 49.9% commencing March 31, 2005. Organic Ingredients is a provider of a wide range of certified organic industrial ingredients including processed fruit and vegetable based ingredients, sweeteners, vinegars and others. Organic Ingredients sources and contract manufactures through exclusive arrangements with suppliers located in North America, South America, Europe and Asia. Steve Bromley, President and COO of SunOpta Inc., commented, “We have been very pleased with the performance of Organic Ingredients since our initial investment. Beyond strengthening our abilities in the provision of certified organic ingredients, this business has further positioned SunOpta as a key supplier to the growing private label healthy foods market.” In a related matter, Jeremy Kendall, Chairman and CEO of SunOpta Inc., commented on the volatility in the Company’s share price which has been experienced over the past number of weeks. “We are very concerned with the recent […]

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Whole Foods Market Announces a 32% Increase in Quarterly Dividend to $0.25 Per Share

Whole Foods Market, Inc. (Nasdaq: WFMI – News) yesterday announced that its Board of Directors raised its quarterly dividend from $0.19 to $0.25 per share. In November 2004 the Company announced that its Board of Directors had approved a 27% increase in the Company’s quarterly dividend from $0.15 to $0.19 per share. On January 17, 2005, the Company paid approximately $12 million to shareholders in quarterly dividends of $0.19 per share. The first $0.25 per share dividend is payable April 25, 2005 to shareholders of record at the close of business on April 15, 2005. At the end of the first quarter, the Company’s cash and cash equivalents, including restricted cash, were approximately $261 million, and total long- term debt was approximately $101 million. “We believe we will continue to produce strong cash flow from operations and stock option exercises and, as an EVA company, we believe in maximizing returns on capital to our shareholders,” said John Mackey, Chairman, Chief Executive Officer, and Co-Founder of Whole Foods Market. “We are fortunate that due to our increasing cash balance we are able to increase the dividend once again in such a short time frame.” Website: [sorry this link is no longer […]

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Investors Outpacing Congress In Push For Climate Change Action

The push for climate change controls is not being debated in Congress, but rather on Wall Street, with activist investor groups beginning to push hard for energy companies to prove they are doing something to curb greenhouse gases or else face the consequences. The trend is being led by faith-based groups and environmentally conscious investors, who have decided to deal directly with the energy companies instead of getting bogged down in Congress. A growing number of electric utilities and oil and gas companies are being forced to answer to shareholder requests to disclose the financial risks associated with climate change, an explosive inquiry where answers tend to reflect badly on coal dependent utilities and oil giants with extensive refinery operations. Investors are warning of potentially serious financial implications for these companies and pressuring them for action to reduce exposure. Absent a federal mandate capping greenhouse gas emissions, specifically carbon, investor groups say passing shareholder resolutions is the best course of action. “Most oil and gas companies are taking climate change much more seriously than they were just a year ago,” said Mindy Lubber, president of the Center for Environmentally Responsible Economies (CERES), one of the major investor organizations helping to […]

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