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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 16, 1998
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CORN PRODUCTS INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-13397 22-3514823
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6500 South Archer Road, Bedford Park, Illinois 60501-1933
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (708) 563-2400
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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This Report is made to file a press release issued by the Registrant on
September 16, 1998.
Item 7. Financial Statements and Exhibits.
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Exhibits
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The exhibit accompanying this report is listed in the accompanying Exhibit
Index.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
CORN PRODUCTS INTERNATIONAL, INC.
(Registrant)
Date: September 16, 1998 By: /s/ James W. Ripley
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James W. Ripley
Chief Financial Officer
(principal financial officer)
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EXHIBIT INDEX
Exhibit Number Description of Exhibit
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1 Press Release dated September 16, 1998
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EXHIBIT 99.1
CORN PRODUCTS INTERNATIONAL DECLARES ITS FIRST QUARTERLY DIVIDEND AND
AUTHORIZES BUYBACK OF UP TO TWO MILLION SHARES
BEDFORD PARK, Ill., Sept. 16/PRNewswire/ -- The Board of Directors of Corn
Products International, Inc. (NYSE:CPO) today declared its first quarterly
dividend of $0.08 per share, payable October 23, 1998 to stockholders of record
at the close of business on September 30, 1998. The Board also authorized the
purchase by the company of up to two million of its issued and outstanding
shares of common stock. Currently there are about 36 million shares of Corn
Products common stock outstanding. The company plans to purchase shares under
this program from time to time over a period of three years, as determined by
management.
Konrad Schlatter, Chairman and Chief Executive Officer of Corn Products
International said. "We started our corporate life as an independent company at
the beginning of this year and this quarterly dividend is the first in what we
expect to be a regular, continuing and periodically increasing earnings
distribution. The dividend and the repurchase program demonstrates our
confidence in the growth prospects we believe this company has in terms of
stronger earnings and cash flow as we move into 1999 and our goal of
continually increasing shareholder value."
This Press Release contains certain forward-looking statements concerning the
Company. Although the Company believes its expectations reflected in such
forward-looking statements are based on reasonable assumptions, no assurance
can be given that such expectations will prove correct and actual results and
developments may differ materially. Important factors that could cause actual
results to differ include: currencies, economies, by-product returns, and
manufacturing costs. For a further description of these factors, see the
Company's Annual Report on Form 10-K for the year ended December 31, 1997 and
Form 10-Q for the quarter ended June 30, 1998.
About Corn Products International, Inc.:
Corn Products International, Inc., headquartered in Bedford Park, IL., produces
high-quality food ingredients and industrial products derived from the wet
milling of corn and other starch-based materials. With international
operations spanning 21 countries and 38 plants, Corn Products is one of the
largest corn refiners in the world and the leading refiner in Latin America.
In addition, the company is the world's leading producer of dextrose and has
strong regional leadership in cornstarch. Corn Products, which began
operations as an independent company in 1998, has sales of $1.5 billion. Corn
Products International, Inc.'s stock is traded on the New York Stock Exchange
under the symbol CPO.
SOURCE Corn Products International, Inc.
