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.

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.