Accrued Dividends Payable And Dividends per Common Share

12 Months Ended

May 28, 2022

Accrued Dividends Payable And Dividends Per Common Share [Abstract]

Accrued Dividends Payable And Dividends Per Common Share

Note 11 - Accrued Dividends Payable and Dividends per Common Share

We accrue dividends at the end of each quarter according to our dividend policy adopted by our Board of Directors. The Company

pays a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which

the Company reports net income attributable to Cal-Maine Foods, Inc. computed in accordance with GAAP in an amount equal

to one-third (

1/3

) of such quarterly income. Dividends are paid to shareholders of record as of the

60

th day following the last day

of such quarter, except for the fourth fiscal quarter. For the fourth quarter, the Company pays dividends to shareholders of record

on the

65

th day after the quarter end. Dividends are payable on the

15

th day following the record date. Following a quarter for

which the Company does not report net income attributable to Cal-Maine Foods, Inc., the Company will not pay a dividend for a

subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the last quarter for

which a dividend was paid.

On our consolidated statement of income, we determine dividends per common share in accordance with the computation in the

following table (in thousands, except per share data):

13 Weeks Ended

52 Weeks Ended

May 28, 2022

May 29, 2021

May 28, 2022

May 29, 2021

Net income (loss) attributable to Cal-Maine Foods, Inc.

$

109,986

$

(4,244)

$

132,650

$

2,060

Cumulative losses to be recovered prior to payment of

divided at beginning of period

—

—

(4,244)

(1,370)

Net income attributable to Cal-Maine Foods, Inc.

available for dividend

$

109,986

$

—

$

—

$

—

1/3 of net income attributable to Cal-Maine Foods, Inc.

available for dividend

$

36,662

—

Common stock outstanding (shares)

44,140

44,058

Class A common stock outstanding (shares)

4,800

4,800

Total common stock outstanding (shares)

48,940

48,858

Dividends per common share*

$

0.749

$

—

$

0.874

$

0.034

*Dividends per common share =

1/3

 of Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total

common stock outstanding (shares).