B&G Foods Declares Regular Quarterly Dividend

Rhea-AI Summary

B&G Foods, Inc. (BGS) declares a regular quarterly cash dividend of $0.19 per share, with an annualized yield of 8.1%. This marks the 78th consecutive quarterly dividend since the company's IPO in 2004.

Insights

Financial Analyst

The declaration of a regular quarterly cash dividend of $0.19 per share by B&G Foods represents a significant aspect of shareholder return and the annualized yield of 8.1% stands out as particularly high compared to the average dividend yield of the S&P 500, which historically hovers around 2%. This high yield could be indicative of the company's commitment to returning value to shareholders, or it could signal a higher risk profile if the market perceives the dividend as unsustainable in the long term.

Investors typically view regular dividends as a sign of a company's financial health and stability. However, a yield as substantial as 8.1% may also raise questions about the company's growth prospects and whether it is the best use of capital. In the context of B&G Foods, this could suggest that the company is generating sufficient cash flow to support the dividend, but it's essential to analyze the payout ratio to assess the sustainability of these payments. A payout ratio that exceeds earnings may not be sustainable in the long run.

Market Research Analyst

From a market perspective, B&G Foods' announcement of its 78th consecutive quarterly dividend since its IPO in 2004 is indicative of a consistent return policy, which can be appealing to income-focused investors, especially in an environment where consistent income streams are highly valued. This consistency may also reflect positively on the company's brand and could potentially attract a more conservative investor base.

However, it's important to consider the broader industry context. The food industry is subject to fluctuations in commodity prices, changing consumer tastes and increased competition. Companies that manage to maintain a stable dividend in such an environment may be seen as having a competitive advantage. Still, it's critical to evaluate whether the company is balancing this with necessary investments in innovation and growth to ensure long-term competitiveness.

PARSIPPANY, N.J.--(BUSINESS WIRE)-- B&G Foods, Inc. (NYSE: BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend is payable on April 30, 2024 to stockholders of record as of March 28, 2024.

At the closing market price of the common stock on February 26, 2024, the current dividend rate represents an annualized yield of 8.1%. This is the 78^th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004.

About B&G Foods, Inc.

Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240226087465/en/

Investor Relations:

ICR, Inc.

Dara Dierks

866.211.8151

Media Relations:

ICR, Inc.

Matt Lindberg

203.682.8214

Source: B&G Foods, Inc.

FAQ

What is the amount of the regular quarterly cash dividend declared by B&G Foods, Inc. (BGS)?

B&G Foods, Inc. (BGS) declared a regular quarterly cash dividend of $0.19 per share.

When is the dividend payable to stockholders of B&G Foods, Inc. (BGS)?

The dividend is payable on April 30, 2024, to stockholders of record as of March 28, 2024.

What is the annualized yield of the dividend declared by B&G Foods, Inc. (BGS)?

The current dividend rate represents an annualized yield of 8.1%.

How many consecutive quarterly dividends has B&G Foods, Inc. (BGS) declared since its IPO?

This marks the 78th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004.