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B&G Foods, Inc. (NYSE: BGS), based in Parsippany, New Jersey, is a prominent American manufacturer and distributor of a diverse range of high-quality, branded shelf-stable and frozen foods. The company's products are recognized across the United States, Canada, and Puerto Rico, catering to a broad spectrum of consumer tastes and preferences.
B&G Foods' extensive portfolio includes well-known brands such as Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril’s, Grandma’s Molasses, J.J. Flats, Joan of Arc, Las Palmas, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Rickland Orchards, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin, Trappey’s, TrueNorth, Underwood, Vermont Maid, and Wright’s. Additionally, B&G Foods markets the household product brand, Static Guard.
In recent news, B&G Foods announced a significant partnership with the historic Four Sixes (6666) Ranch to introduce a new line of Four Sixes™ Seasonings, BBQ & Hot Sauces. This collaboration aims to bring the authentic flavors of the iconic 154-year-old ranch in Guthrie, Texas, to home cooks nationwide. The new product line, crafted with historical recipes from the ranch, is set to include over a dozen varieties of seasoning blends, BBQ sauces, and hot sauces. This venture highlights B&G Foods' commitment to delivering authentic and high-quality flavor solutions to its customers.
The company's financial condition remains robust, supported by its diversified product offerings and strategic partnerships. B&G Foods continues to focus on expanding its market presence and enhancing its brand portfolio to meet the evolving needs of consumers. For individuals seeking employment opportunities, B&G Foods provides career options at B&G Foods Careers.
B&G Foods, Inc. (NYSE: BGS) will release its second quarter 2021 financial results on August 5, 2021, after market close. The company has scheduled a conference call at 4:30 p.m. ET on the same day, hosted by CEO Casey Keller and CFO Bruce Wacha, to discuss the results. Interested parties can access the earnings press release and a live audio webcast of the call on their investor relations website. A replay will be available afterward.
B&G Foods (NYSE: BGS) has declared a quarterly cash dividend of $0.475 per share, payable on July 30, 2021 to shareholders of record as of June 30, 2021. This announcement marks the 67th consecutive quarterly dividend since its IPO in October 2004. At the closing market price on May 18, 2021, the dividend yields an annualized rate of 6.5%, demonstrating the company's commitment to returning value to shareholders.
B&G Foods has appointed Kenneth C. "Casey" Keller as President and CEO, effective June 14, 2021. Keller succeeds David L. Wenner, who will remain on the Board of Directors. Keller, previously CEO of JDE Peet’s NV, has extensive experience in the food and beverage sector, having led significant mergers and expansions. His appointment aims to enhance B&G Foods' growth strategy, with a focus on organic and acquisition growth, along with corporate social responsibility initiatives. Keller expressed enthusiasm for joining B&G Foods and enhancing stakeholder value.
B&G Foods reported a 12.4% increase in net sales to $505.1 million for Q1 2021 due to the Crisco acquisition, despite a 6.8% decline in diluted earnings per share to $0.41. Adjusted diluted earnings per share rose 13.0% to $0.52, and adjusted net income climbed 16.7% to $34.1 million. However, base business sales were nearly flat, indicating challenges against high prior year comparisons. The company reaffirmed its full-year guidance of $2.05 billion to $2.10 billion in net sales, despite anticipated ongoing cost inflation.
B&G Foods has expanded the retail availability of the Cinnamon Toast Crunch™ Cinnadust™ Seasoning Blend, which gained popularity after its successful launch in club stores in September 2020. Now available nationwide in over 4,300 grocery stores, the seasoning blend comes in two new sizes: 3.5oz ($2.99) and 6.5oz ($4.99), alongside the original 13.75oz bottle. This versatile seasoning captures the essence of the beloved cereal and can be used in various culinary applications.
B&G Foods, Inc. (NYSE: BGS) will release its first quarter 2021 financial results after market close on May 11, 2021. A conference call to discuss these results is set for 4:30 p.m. ET on the same day, hosted by Interim President and CEO David L. Wenner and Executive VP of Finance Bruce C. Wacha. The earnings press release and live audio webcast can be accessed via the investor relations section on the company’s website.
B&G Foods, Inc. (NYSE: BGS) has extended its stock repurchase program until March 15, 2022, allowing up to $50 million for share buybacks. The company will determine when and how much to repurchase based on market conditions and available cash. Currently, B&G Foods has 64,724,058 shares outstanding. Any shares repurchased will be retired, potentially enhancing shareholder value by reducing share count and improving EPS. This move reflects management's confidence in the company's financial position and its commitment to returning value to shareholders.
B&G Foods reported strong financial results for Q4 and full year 2020, driven by high product demand amid the COVID-19 pandemic.
Q4 net sales rose 8.5% to $510.2 million, while full year sales increased 18.5% to $1.97 billion. Diluted EPS for Q4 was $0.19, a rise of 18.8%, and for the full year, EPS surged 74.4% to $2.04. Adjusted EBITDA for Q4 reached $73.3 million, up 5.6%. The acquisition of Crisco on December 1, 2020, contributed significantly to sales and is expected to enhance future earnings.
B&G Foods, Inc. (NYSE: BGS) announced a quarterly cash dividend of $0.475 per share, payable on April 30, 2021, to shareholders on record by March 31, 2021. This dividend yields 6.2% based on the closing market price on March 1, 2021. The declaration marks the 66th consecutive quarterly dividend since the company's IPO in October 2004, reflecting its commitment to returning value to shareholders.
B&G Foods (NYSE: BGS) provided details on the tax treatment for dividends paid in 2020. A total of $1.90 per share was distributed, with 74.95% ($1.42408 per share) considered a taxable dividend and 25.05% ($0.47592 per share) as a return of capital. Investors are advised to review their 2020 tax statements from brokerage firms to ensure accuracy. Comprehensive information is available on B&G Foods' website under 'FAQs' and 'IRS Form 8937.' Consultation with tax advisors is recommended for individual tax implications.
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