March 29, 2024

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Lamb Weston Holdings Announces $250 Million Cash Financial investment in New French Fry Processing Facility in China Declares Quarterly Dividend

4 min read

EAGLE, Idaho–(Company WIRE)–Lamb Weston Holdings, Inc. (NYSE: LW) declared now an expansion of french fry processing capability in China and the declaration of its quarterly dividend.

“The french fry group is poised for advancement globally, and China proceeds to be a vital market for us,” said Tom Werner, President and CEO of Lamb Weston. “This expenditure of in-region generation for the China market is a clear illustration of our dedication to our strategic prospects and supporting their growth strategies very well into the future.”

Capability Growth

The Organization announced the prepared building of a new french fry processing facility in Ulanqab, Internal Mongolia, China with capability to deliver much more than 250 million lbs of frozen french fries and other potato solutions per calendar year. The facility is predicted to insert about 280 full-time positions, and will add to the Company’s present in-country generation from its facility in Shangdu, Inner Mongolia, China.

The new facility is envisioned to be concluded in the Company’s initially 50 % of fiscal calendar year 2024. The complete investment decision for the new facility is anticipated to be approximately $250 million.

Dividend

The Board of Directors declared a quarterly dividend of $.235 per share of Lamb Weston frequent inventory. The dividend is payable on June 4, 2021 to stockholders of document as of the close of company on Might 7, 2021.

About Lamb Weston

Lamb Weston, together with its joint venture partners, is a foremost provider of frozen potato, sweet potato, appetizer and vegetable goods to dining places and stores around the entire world. For much more than 70 yrs, Lamb Weston has led the business in innovation, introducing ingenious merchandise that simplify back again-of-residence administration for its customers and make issues additional delectable for their clients. From the fields the place Lamb Weston potatoes are developed to proactive buyer partnerships, Lamb Weston normally strives for far more and under no circumstances settles. Since, when we glance at a potato, we see possibilities. Understand additional about us at lambweston.com.

Ahead-Hunting Statements

This push launch consists of forward-hunting statements inside of the which means of the federal securities rules. Words and phrases these kinds of as “continue,” “expect,” “support,” “invest,” “expand,” “plan,” “will,” “add,” and variations of this kind of words and phrases and very similar expressions are meant to establish forward-seeking statements. Examples of ahead-looking statements include things like, but are not confined to, statements about the Company’s money investments, dividends and organization outlook and potential clients. These forward-on the lookout statements are primarily based on management’s current anticipations and are subject matter to uncertainty and changes in circumstances. Viewers of this press release need to comprehend that these statements are not ensures of efficiency or final results. Lots of things could influence the Company’s precise monetary final results and trigger them to fluctuate materially from the anticipations contained in the forward-seeking statements, including all those established forth in this push release. These dangers and uncertainties involve, amongst other issues: impacts on the Company’s business due to overall health pandemics or other contagious outbreaks, these as the recent COVID-19 pandemic, together with impacts on demand from customers for its solutions, amplified fees, disruption of provide or other constraints in the availability of vital commodities and other needed products and services the Company’s potential to successfully execute its long-expression value creation procedures the Company’s means to execute on huge cash tasks, such as building of new output traces or facilities the competitive surroundings and relevant conditions in the marketplaces in which the Enterprise and its joint ventures run political and financial circumstances of the international locations in which the Organization and its joint ventures carry out enterprise and other factors related to its worldwide functions disruption of the Company’s entry to export mechanisms hazards linked with possible acquisitions, which include the Company’s capability to finish acquisitions or integrate acquired corporations its personal debt stages the availability and rates of uncooked materials improvements in the Company’s relationships with its growers or significant shoppers the achievements of the Company’s joint ventures steps of governments and regulatory things influencing the Company’s enterprises or joint ventures the top consequence of litigation or any product or service recollects stages of pension, labor and folks-similar fees the Company’s ability to spend regular quarterly funds dividends and the amounts and timing of any long run dividends and other challenges described in the Company’s reports filed from time to time with the Securities and Trade Commission. The Company cautions visitors not to location undue reliance on any ahead-looking statements provided in this push launch, which converse only as of the date of this press launch. The Organization undertakes no duty for updating these statements, besides as needed by law.

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