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     105  0 Kommentare Armanino Foods of Distinction, Inc. to Maintain Its Record High Regular Quarterly Dividend at $.0363; Announces $7 Million Stock Buyback Program

    Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.0363 per share. The dividend will be payable to shareholders of record on July 5, 2024 and will be disbursed on or about July 26, 2024. This is the Company’s 96th consecutive quarterly dividend. In addition, the Company has had eleven special dividends.

    Additionally, the Board authorized an increase in the Company’s existing, but dormant, stock buyback program to purchase up to $7 million of additional shares of common stock in the open market, through block trades, and/or private transactions as permitted by applicable legal requirements. The stock buyback program does not obligate the Company to acquire any particular amount of common stock, and it may be modified, extended or terminated by the Board of Directors at any time. Between the inception of the buyback program in 2010 and the last purchases under the program in 2013, the Company purchased and retired 3,102,135 shares of its common stock at an aggregate purchase price of $2,394,294.

    Douglas R. Nichols, Chairman of the Board stated, “We remain focused on investor value so we are pleased to announce that we will maintain our quarterly dividend which represents the highest payout in the Company’s history on a per share basis. This dividend as well as the increase in our stock buyback program represents the Board’s continued confidence in management’s ability to continue to operate at high levels and deliver strong results for the long-term.”

    Tim Anderson, President, and CEO commented, “We continue to make strong progress towards strategically strengthening our core business, improving margins, penetrating new markets, all while meeting and exceeding the evolving needs of our customers. Our financial position remains strong, affording us the opportunity to continually invest in diversified channels through organic growth initiatives and to pursue financially accretive opportunities in adjacent markets with a continual eye towards strategic acquisition opportunities to strengthen our existing capabilities and grow in new categories.”

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    Armanino Foods of Distinction, Inc. to Maintain Its Record High Regular Quarterly Dividend at $.0363; Announces $7 Million Stock Buyback Program Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.0363 per share. The dividend will be payable to shareholders of record on July 5, 2024 and will be …