GraceKennedy

The Board of Directors of GraceKennedy Limited has approved a new policy for payment of dividends. Under the new policy the company will increase dividend payments to a minimum of 15% of Net Profit Attributable to Stockholders, up from a minimum of 10%. The decision was also taken to increase the frequency of dividend payments from two to three times yearly. In a cautionary statement the Board said the policy must be viewed against the background of an unpredictable environment and is subject to available cash flow.

GraceKennedy has declared a dividend of 50 cents per stock unit payable on May 27 to stockholders on record as at May 3, 2010. The other payment dates will be in September and December.