IBP Chairman Robert L. Peterson announced today that IBP’s Board of Directors has declared a cash dividend of $.025 per share of common stock for the fourth quarter of 2000.

The dividend will be payable on January 15, 2001, to shareholders of record on December 15, 2000.

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IBP is the world’s leading producer of high quality fresh beef and pork, and supplies premium, fully prepared meats and other consumer-ready foods for the retail and foodservice industries. The company employs approximately 50,000 people.

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