Smithfield proposes $1.3B Sioux Falls plant rebuild, raises dividend 25%, cuts China exposure

Filed April 28, 2026 · Period ending March 29, 2026 · Compared to 10-Q Apr 29, 2025 · ~2 min read

Key Changes

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  Company announced potential $1.3 billion investment to replace 117-year-old Sioux Falls plant with new combined fresh pork and packaged meats facility. Construction would begin H1 2027 if approved, with production starting end of 2028. Accelerated depreciation and closure costs will follow if project proceeds.

  MD&A: Sioux Falls plant construction verify on EDGAR →
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  Nathan's Famous acquisition for $102/share now expected to close H2 2026 due to government shutdown delays in CFIUS review. Company already holds exclusive license through 2032 for Nathan's branded products in U.S., Canada, and Mexico Sam's Clubs.

  MD&A: Nathan's acquisition timing verify on EDGAR →
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  Quarterly dividend increased 25% from $0.25 to $0.3125 per share, bringing anticipated annual rate to $1.25 per share for fiscal 2026. First full year of dividends following January 2025 IPO.

  MD&A: Quarterly dividend rate verify on EDGAR →