Bunge net sales up 41% in Q1 2021

Bunge reports USD 831 mln of net income for Q1 2021 vs. USD 184 mln of loss in the prior-year period.

Earnings per share (EPS) for the period stood at USD 5.52 vs. USD 1.46 of loss in Q1 2020.

The company's net sales in Jan-Mar reached USD 12.96 bln, 41% higher YoY (Q1 2020: USD 9.17 bln). Bunge gross profit surged 6.6x to USD 1.15 bln (Q1 2020: USD 174 mln).

Total Segment EBIT was USD 1.09 bln vs. USD -170 mln in Q1 2020.

Bunge Board of directors announced a quarterly common dividend of USD 0.525 per share, an increase of 5%. The dividend will be paid on 2 September 2021 to shareholders of record as of 19 August 2021.

The company also disclosed a quarterly dividend of USD 1.22 per share for 4.9% cumulative convertible perpetual preference shares payable on 1 September 2021 to shareholders of record as of 15 August 2021.

Previously reported that in late March 2021 Bunge disposed of a grain export terminal in Russia. The transaction amount was not disclosed.