On Jan. 24, we noted, “While it’s a risky bet at the moment, it looks like most of the negativity has been priced into Archer Daniels Midland (ADM). Earlier this week, the stock gapped from about $67.50 to $52.31 on an accounting probe. Not only was ADM forced to downgrade its outlook, but it also placed its CFO on leave. But again, it does look like a good deal of negativity has been priced in.”
At the time, ADM traded at $52.31. Today, it’s just starting to pivot higher, last trading at $54.94. While it’s not a substantial gain just yet, things could improve for the still oversold ADM stock.
Plus, as investors wait for further upside, they can collect ADM’s dividend. The company’s Board of Directors just declared a cash dividend of 50 cents a share, payable Feb. 29 to shareholders of record as of Feb. 8. As noted in the ADM press release, “This is ADM’s 369th consecutive quarterly payment, a record of more than 92 years of uninterrupted dividends.”