CORRECTION - Franchise Group, Inc. Increases Quarterly Common Stock Dividend by 67%

Rhea-AI Summary

Franchise Group, Inc. (NASDAQ: FRG) announced a 67% increase in its quarterly cash dividend to $0.625 per share, correcting an earlier figure of 40%. The dividend will be paid on or around January 15, 2022 to shareholders on record as of December 31, 2021. This decision reflects the Company’s commitment to generating strong cash flow and returns for its investors. Franchise Group operates over 3,000 locations across various brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on expanding its portfolio while maintaining financial health.

Positive

• 67% increase in quarterly cash dividend to $0.625 per share.
• Dividend payment scheduled for January 15, 2022.
• Strong cash flow generation supports shareholder returns.
• Expansion across a diversified portfolio of over 3,000 locations.

Negative

• None.

DELAWARE, Ohio, Dec. 07, 2021 (GLOBE NEWSWIRE) -- In a release issued earlier today by Franchise Group, Inc. (NASDAQ: FRG), please note that in the headline and the first paragraph, the increase to the quarterly cash dividend should be 67%, rather than 40% as originally issued. The complete corrected release follows:

Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) today announced that its Board of Directors approved a 67% increase to its quarterly cash dividend to common stockholders of $0.625 per share. The cash dividend will be paid on or about January 15, 2022 to holders of record of the Company’s common stock on the close of business on December 31, 2021.

About Franchise Group, Inc.
Franchise Group is an owner and operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. Franchise Group’s business lines include Pet Supplies Plus, American Freight, The Vitamin Shoppe, Badcock Home Furniture & more, Buddy’s Home Furnishings and Sylvan Learning. On a combined basis, Franchise Group currently operates over 3,000 locations predominantly located in the U.S. that are either Company-run or operated pursuant to franchising and dealer agreements.

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 include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including the Company’s expectations regarding the continued increase to the dividend and payments of dividends in the future. Such forward-looking statements are based on various assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are often accompanied by words that convey projected future events or outcomes such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “potential,” or words of similar meaning or other statements concerning opinions or judgment of the Company or its management about future events. Although the Company believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of the Company will not differ materially from any projected future results, performance or achievements expressed or implied by such forward-looking statements. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, many of which are beyond the control of the Company. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Annual Report on Form 10-K for the period ended December 26, 2020, and comparable sections of the Company’s Quarterly Reports on Form 10-Q and other filings, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or its business or operations. Readers are cautioned not to rely on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made and the Company does not undertake any obligation to update, revise or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

INVESTOR RELATIONS CONTACT:
Andrew F. Kaminsky
EVP & Chief Administrative Officer
Franchise Group, Inc.
akaminsky@franchisegrp.com
(914) 939-5161

 

FAQ

What is the new dividend amount for Franchise Group (FRG)?

The new quarterly cash dividend for Franchise Group (FRG) is $0.625 per share.

When will Franchise Group's dividend be paid?

The dividend will be paid on or about January 15, 2022.

What is the percentage increase in Franchise Group's dividend?

Franchise Group's dividend has increased by 67% from the previous amount.

Who is eligible for the dividend payment from Franchise Group?

Shareholders on record as of December 31, 2021, are eligible for the dividend payment.