SOURCE: Oil-Dri Corporation of America

Oil-Dri Corporation of America

March 12, 2010 16:30 ET

Oil-Dri Board of Directors Authorizes Additional Common Stock Repurchases and Declares Dividends

CHICAGO, IL--(Marketwire - March 12, 2010) -  Oil-Dri Corporation of America (NYSE: ODC) announced today that its Board of Directors has authorized the repurchase of an additional 250,000 shares of its Common Stock and has declared quarterly cash dividends of $0.15 per share of the Company's Common Stock and $0.1125 per share of the Company's Class B Stock.

President and Chief Executive Officer Daniel S. Jaffee said, "We continue to believe our Common Stock repurchase program is a good investment in our future and I am pleased with the Board's decision to approve additional shares for this program."

Including the 238,243 shares remaining under the prior authorizations, the Company is now authorized to repurchase a total of 488,243 shares of Common Stock.

The dividends will be payable on June 4, 2010, to stockholders of record at the close of business on May 21, 2010. The Company has paid cash dividends continuously since 1974.

Oil-Dri Corporation of America is a leading supplier of specialty sorbent products for industrial, automotive, agricultural, horticultural and specialty markets and the world's largest manufacturer of cat litter.

Certain statements in this press release may contain forward-looking statements that are based on our current expectations, estimates, forecasts and projections about our future performance, our business, our beliefs, and our management's assumptions. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls, and conference calls. Words such as "expect," "outlook," "forecast," "would," "could," "should," "project," "intend," "plan," "continue," "believe," "seek," "estimate," "anticipate," "believe," "may," "assume," variations of such words and similar expressions are intended to identify such forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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