Armanino Foods of Distinction, Inc. to Maintain Its Highest Ever Regular Quarterly Dividend at $0.0363 and Announces Change in Auditors
Armanino Foods (OTCQX: AMNF) has declared its 98th consecutive quarterly cash dividend of $0.0363 per share, payable to shareholders of record on January 8, 2025, with disbursement around January 27, 2025. The company announced its graduation to the OTCQX Market, which is expected to provide greater exposure to investors. Additionally, AMNF has engaged MGO, as new auditors to support growth initiatives, while maintaining Sadler, Gibb & Associates as consultants. Management expressed confidence in their financial position and commitment to maintaining their highest-ever regular dividend payout, highlighting strong operating performance and working capital position.
Armanino Foods (OTCQX: AMNF) ha dichiarato il suo 98º dividendo trimestrale in contante consecutivo di $0.0363 per azione, pagabile agli azionisti registrati l'8 gennaio 2025, con un versamento previsto intorno al 27 gennaio 2025. L'azienda ha annunciato il suo passaggio al Mercato OTCQX, che si prevede offrirà una maggiore visibilità agli investitori. Inoltre, AMNF ha coinvolto MGO come nuovi revisori contabili per supportare le iniziative di crescita, mantenendo Sadler, Gibb & Associates come consulenti. La direzione ha espresso fiducia nella propria posizione finanziaria e nell'impegno a mantenere il più alto pagamento di dividendi regolari mai registrato, evidenziando solidi risultati operativi e una robusta posizione di capitale circolante.
Armanino Foods (OTCQX: AMNF) ha declarado su 98º dividendo trimestral en efectivo consecutivo de $0.0363 por acción, que se pagará a los accionistas registrados el 8 de enero de 2025, con desembolso alrededor del 27 de enero de 2025. La compañía anunció su graduación al Mercado OTCQX, que se espera proporcione una mayor exposición a los inversores. Además, AMNF ha contratado a MGO como nuevos auditores para apoyar las iniciativas de crecimiento, mientras mantiene a Sadler, Gibb & Associates como consultores. La dirección expresó confianza en su posición financiera y compromiso de mantener el pago de dividendos regulares más alto de la historia, destacando un sólido desempeño operativo y una posición de capital de trabajo fuerte.
Armanino Foods (OTCQX: AMNF)는 주당 $0.0363의 98번째 연속 분기 현금 배당금을 선언하였으며, 이는 2025년 1월 8일 기록된 주주에게 지급될 예정이며, 지급일은 2025년 1월 27일 경이 될 것입니다. 회사는 자신이 OTCQX 시장으로의 졸업을 발표하였으며, 이는 투자자들에게 더 큰 노출을 제공할 것으로 기대됩니다. 또한, AMNF는 성장 이니셔티브를 지원하기 위해 MGO를 새로운 감사인으로 선임하였고, Sadler, Gibb & Associates는 컨설턴트로 유지하고 있습니다. 경영진은 자신의 재무 상태에 대한 자신감과 함께 사상 최대의 정기 배당금 지급을 유지할 것임을 강조하며, 강한 운영 성과와 자본 운영 포지션을 부각시켰습니다.
Armanino Foods (OTCQX: AMNF) a déclaré son 98e dividende trimestriel en espèces consécutif de 0,0363 $ par action, payable aux actionnaires inscrits le 8 janvier 2025, avec un versement prévu autour du 27 janvier 2025. L'entreprise a annoncé sa graduation sur le marché OTCQX, ce qui devrait offrir une plus grande visibilité aux investisseurs. De plus, AMNF a engagé MGO comme nouveaux auditeurs pour soutenir ses initiatives de croissance, tout en maintenant Sadler, Gibb & Associates en tant que consultants. La direction a exprimé sa confiance dans sa position financière et son engagement à maintenir le versement de dividendes réguliers le plus élevé jamais réalisé, mettant en avant de fortes performances opérationnelles et une solide position de fonds de roulement.
Armanino Foods (OTCQX: AMNF) hat seine 98. aufeinanderfolgende vierteljährliche Bardividende von $0.0363 pro Aktie erklärt, die an die Aktionäre, die am 8. Januar 2025 registriert sind, ausgezahlt wird, mit einer Auszahlung um den 27. Januar 2025. Das Unternehmen gab seine Graduierung zum OTCQX-Markt bekannt, was voraussichtlich eine größere Sichtbarkeit für Investoren bieten wird. Darüber hinaus hat AMNF MGO als neuen Wirtschaftsprüfer beauftragt, um Wachstumsinitiativen zu unterstützen, während Sadler, Gibb & Associates als Berater retained bleibt. Das Management äußerte Vertrauen in seine finanzielle Position und das Engagement, die höchste je gezahlte regelmäßige Dividende beizubehalten, wobei eine starke operative Leistung und eine solide Liquiditätsposition hervorgehoben wurden.
- Maintained highest-ever quarterly dividend at $0.0363 per share
- Upgraded to OTCQX Market, potentially increasing investor exposure
- Strong working capital position from solid operating performance
- 98th consecutive quarterly dividend payment demonstrates stability
- None.
Douglas R. Nichols, Chairman of the Board stated, “It is important that we continue our strategy of maintaining our highest payout per share in our history. It represents our continued confidence in our financial position as well as focus on providing shareholder value. We continue to be confident in management’s ability to achieve best in class results for the short and long term as demonstrated by this dividend commitment. Our recent announcement of our graduation to the OTCQX Market further shows that confidence. Being on the OTCQX is an important milestone as it exemplifies our evolution as a company. It is expected to provide greater exposure to a broader range of individual and institutional investors.”
Nichols concluded, “In addition, it is with pride that we announce that we have engaged MGO, LLC, to be our new auditors in support of our growth initiatives. Sadler, Gibb & Associates, LLC, has provided Armanino Foods with invaluable business and accounting services. We intend to continue to engage them to assist us with the transition to MGO and as consultants on other business and accounting matters on an as needed basis.”
Tim Anderson, President, and CEO commented, “We continue to make progress toward building upon our strong foundation and strengthening our financial position by seeking to penetrate new markets, improve margins and meet the emerging needs of our diverse customer base, and ultimately, end consumers. Our working capital position has continued to grow based on the strength of our operating performance. This strong balance sheet allows us to provide increased value to our investors while maintaining financial flexibility, including the consideration of various strategic investments to support both organic and inorganic growth opportunities across multiple channels.”
Anderson concluded, “In addition, we continue to make investments in new capabilities and technologies to improve operating performance while simultaneously improving the quality and consistency of our market-leading products.”
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto, Armanino offers other flavors and sauces including as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, and Alfredo. Armanino’s organic line includes classic Basil Pesto. Finally, Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.
Cautionary Statements Regarding Forward-Looking Information
The declaration of cash dividends in the future, pursuant to the Company’s dividend policy, is subject to final determination each quarter by the Board of Directors based on a number of factors, including the Company’s financial performance and its available cash resources. For this reason, as well as others, there can be no assurance that dividends in the future will be equal or similar to the amount described in this press release or that the Board of Directors will not decide to suspend or discontinue the payment of cash dividends in the future.
Statements in this news release regarding our expectations and beliefs about our future financial performance and trends in our markets are “forward- looking statements” as defined in the Private Securities Litigations Reform Act of 1995. Forward-looking statements often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
The forward-looking statements in this news release regarding our future financial performance are based on current information and because our business is subject to several risks and uncertainties, actual operating results in the future may differ significantly from the future financial performance expected at the current time. Those risks and uncertainties may include, among others: economic factors affecting consumer confidence and discretionary spending and reducing the consumption of food prepared away from home; the extent and duration of the negative impact of the COVID-19 pandemic and its consequences on the Company; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in the Company’s relationships with customers and group purchasing organizations; the Company’s ability to increase or maintain the highest margin portions of the Company’s business; achievement of expected benefits from cost savings initiatives; increases in fuel costs; changes in consumer eating habits; cost and pricing structures and other governmental regulation, including actions taken by national, state and local governments to contain and/or respond to the COVID-19 pandemic and its consequences; product recalls and product liability claims; and our reputation in the industry. The forward-looking statements contained in this press release speak only as of the date of this press release and are based on information and estimates available to the Company at this time. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law.
The best source of information on the company is the OTC Markets website (http://www.otcmarkets.com/stock/AMNF/company-info).
View source version on businesswire.com: https://www.businesswire.com/news/home/20241216771550/en/
For further information, please contact:
Edgar Estonina
CFO
(510) 441-9300
amnf@armaninofoods.com
Source: Armanino Foods of Distinction, Inc.
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