FAT Brands Inc. Announces Third Quarter Cash Dividend on Class A Common Stock and Class B Common Stock

Rhea-AI Summary

FAT Brands (NASDAQ: FAT), a global franchising leader, has announced a cash dividend of $0.14 per share for Q3 fiscal 2024. This dividend applies to both Class A and Class B common stocks, payable on August 30, 2024, to shareholders on record as of August 15, 2024. The company's board retains discretion over future dividend declarations, dependent on various financial conditions and results. FAT Brands oversees 18 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 units worldwide. The announcement underscores FAT Brands' ongoing commitment to returning value to shareholders.

Positive

• Declaration of a $0.14 per share cash dividend for Q3 fiscal 2024.
• Dividend payment scheduled for August 30, 2024.
• Covers both Class A and B common stock.

Negative

• Uncertainty over future dividend declarations and amounts.

LOS ANGELES, July 11, 2024 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s, Smokey Bones and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2024 third quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on August 30, 2024 to holders of record of Class A common stock and Class B common stock as of the close of business on August 15, 2024.

The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns eighteen restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860-212-6509

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FAQ

What is the dividend amount announced by FAT Brands for Q3 fiscal 2024?

FAT Brands announced a cash dividend of $0.14 per share for Q3 fiscal 2024.

When is the dividend payment date for FAT Brands' Q3 fiscal 2024 dividend?

The dividend payment date is August 30, 2024.

Who is eligible to receive the Q3 fiscal 2024 dividend from FAT Brands?

Shareholders of record holding Class A and Class B common stock as of August 15, 2024, are eligible.

What factors will affect FAT Brands' future dividend declarations?

Future dividend declarations will depend on the company’s results of operations, financial condition, capital levels, cash requirements, and other factors.

What stocks are covered under FAT Brands' Q3 fiscal 2024 dividend announcement?

The dividend applies to both Class A and Class B common stocks of FAT Brands (NASDAQ: FAT).