Cal-Maine Foods Inc. (NASDAQ: CALM) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies, with a yield of 5.65%.
On June 29, Cal-Maine Foods Inc. (NASDAQ:CALM) confirmed it has reached a $1.5 million settlement to resolve claims with the US Department of Justice and a coalition of state Attorney Generals in 17 States
The settlement is part of a broader resolution involving multiple major egg producers over claims they organized through a cooperative to supply cage-free eggs in certain markets. The 15-month-long investigation alleged that the egg producers attempted to manipulate an industry price index by sharing bidding information. Cal-Maine was a member of the cooperative but exited before the investigation commenced.
In addition to the $1.5 million settlement, Cal-Mine Foods also agreed to donate 30 million eggs to food banks and nonprofits after denying all wrongdoing, insisting the claims are baseless and that its conduct was lawful. Cal-Maine Foods, Inc. (NASDAQ:CALM) is the largest producer and distributor of fresh shell eggs in the United States. The company is involved in the production, grading, packaging, marketing, and distribution of conventional, cage-free, organic, and specialty eggs, as well as value-added prepared egg products.