Yesterday the board of directors of ConAgra Foods, Inc. (NYSE: CAG) celebrates the 27th consecutive year of dividend increases by raising the annual dividend to 94.0 cents per share from 90.0 cents per share. This represents an increase of 4.4%. This increase will be reflected in the company’s quarterly dividend payment on Dec. 1, 2001.

Bruce Rohde, chairman and chief executive officer, commented, “Our core food businesses are well-positioned and strong cash generators. Given this strength and our confidence in the future of our business, we are increasing our dividends to shareholders for fiscal 2002.”

Rohde continued, “Dividends have long been a priority in our capital allocation process. We have consistently used cash flows for paying dividends and investing for profitable future growth. We expect dividends and growth investments to remain priorities in the future.”

Dividends of 23.50 cents per share will be paid on Dec. 1, 2001, to shareholders of record on Nov. 2, 2001. This will be the first quarterly dividend at the 23.50 cents rate.

ConAgra Foods, Inc. is one of North America’s largest foodservice manufacturers and retail food suppliers, with annualized sales in excess of $27 billion. ConAgra Foods’ consumer brands include: Hunt’s tomato products, Healthy Choice, Banquet meals, Armour meats, Bumble Bee tuna, Louis Kemp seafood, La Choy, Chun King, Lunch Makers, Wesson, Country Pride, Blue Bonnet, Kid Cuisine, Parkay, Reddi-wip, Marie Callender’s, Cook’s ham, Butterball, Act II, Slim Jim, Decker, Chef Boyardee, Orville Redenbacher’s, PAM Cooking Spray, Snack Pack puddings, Van Camp’s, Peter Pan, Hebrew National, Gulden’s mustard, Pemmican Jerky, Swift Brown ‘n Serve Sausages, Swiss Miss, and many others. For more information, please visit us at

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