KCBT Announces Member Dividend - The Board Of Directors Of The Kansas City Board Of Trade Declared A Dividend For 2003

The board of directors of the Kansas City Board of Trade at the December 17 board meeting declared a dividend for 2003 for all full members (Class "AA" Members) of record as of Dec. 17, 2002. A dividend of $2,500 per member will be paid in January 2003.

KCBT Chairman Greg Edelblute said this is the fifth year in a row the exchange has paid a dividend, making it unique among U.S. exchanges. He said it has been a good year for the exchange. Edelblute noted that over the course of the year, the exchange set all-time annual trading volume records for its hard red winter wheat futures, HRW wheat options, and for the exchange as a whole.

Edelblute also noted that the average exchange seat prices had increased in 2002. The average seat price this year was $69,375, up from $65,868 in 2001. The highest sales price for the year was $74,000.

The KCBT is a for-profit corporation organized under the laws of Delaware. The exchange, founded in 1856, is the world's largest marketplace for hard red winter wheat.