National Beverage Corp. Sets Payment Date for Record Dividend

Rhea-AI Summary

National Beverage Corp. (NASDAQ:FIZZ) announced a $6.00 per share cash dividend, payable on January 29, 2021. Since 2004, the company has paid total cash dividends of $20.56 per share, distributing over 80% of earnings. Despite this, it maintains over $200 million in cash reserves and no long-term debt. The company continues to experience year-over-year revenue and earnings growth for four consecutive quarters, driven by successful product launches in the sparkling water category. Upcoming innovative products are expected to further enhance market presence.

Positive

• Announcing a $6.00 per share cash dividend, reflecting commitment to shareholders.
• Total cash dividends since 2004 amount to $20.56 per share, nearly $1 billion total.
• Maintains over $200 million in cash reserves post-dividend payment.
• No long-term debt, indicating financial stability.
• Four consecutive quarters of year-over-year revenue and earnings growth.

Negative

• None.

National Beverage Corp. (NASDAQ:FIZZ) today announced that its Board of Directors set Friday, January 29, 2021, as the payment date for its previously announced $6.00 per share cash dividend.

“Calendar year 2020 is spoken about as “the year that never was” because our lives so drastically changed. The word ‘caring’ will also reflect a new and more profound definition – forever. This special dividend is a result of that word ‘caring’ redefined,” stated a company spokesperson.

“Since 2004, we will have paid total cash dividends of $20.56 per share, or nearly $1 billion. Despite distributing over 80% of our earnings to our shareholders, we believe our financial resources and robust cash flows will be more than adequate to support our leadership position in the fast-growing pure sparkling water category while also allowing us to take advantage of strategic opportunities that may arise. After payment of this record dividend, we anticipate having well in excess of $200 million in cash reserves and undrawn bank lines, and no long-term debt.

Our velocity in tracked channels continues to outperform the category led by the 2020 launch of the unique flavors of LimonCello, Pastèque and Hi-Biscus. We are finalizing exciting, innovative new products for the market and believe they will be in the hands of consumers before summer. Retailer acceptance is strong. Consumer passion for healthy beverages continues unabated. Momentum is clear. These are just a few of the ingredients for future optimism. Our second quarter ended October 31^st was our fourth consecutive quarter of year-over-year revenue and earnings growth and we anticipate our third quarter, which we plan to announce on or before March 11^th, will reflect this positive continuity. The designator of momentum is usually reserved for the leader of a category, and in the case of sparkling water, we are pleased that it clearly has been given to brand LaCroix,” the company spokesperson concluded.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005920/en/

FAQ

When is the payment date for the FIZZ dividend?

The payment date for the FIZZ dividend is January 29, 2021.

What is the amount of the cash dividend announced by National Beverage Corp.?

The cash dividend announced is $6.00 per share.

How much cash reserves does National Beverage Corp. have after the dividend payment?

After the dividend payment, National Beverage Corp. anticipates having well in excess of $200 million in cash reserves.

What has been the trend in revenue and earnings for National Beverage Corp. recently?

National Beverage Corp. has reported four consecutive quarters of year-over-year revenue and earnings growth.

What products contributed to National Beverage Corp.'s performance?

The unique flavors of LimonCello, Pastèque, and Hi-Biscus launched in 2020 have contributed to the company's performance.