Franchise Group, Inc. Announces Approval of Quarterly Preferred Dividend

Rhea-AI Summary

Franchise Group (NASDAQ: FRG) has announced a quarterly dividend of $0.46875 per share for Series A Cumulative Perpetual Preferred stockholders. This dividend is set to be paid on or about July 15, 2021, to shareholders on record as of the close of business on July 1, 2021. Franchise Group operates over 4,600 locations across its brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on strong cash flow generation for its investors.

Positive

• Quarterly dividend of $0.46875 highlights strong cash flow.
• Continued operation of over 4,600 locations indicates robust business model.

Negative

• None.

ORLANDO, Fla., May 04, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) today announced that its Board of Directors approved a quarterly dividend of $0.46875 per share to Series A Cumulative Perpetual Preferred stockholders. The cash dividend will be paid on or about July 15, 2021 to holders of record of the Company’s Series A preferred stock on the close of business on July 1, 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 philosophies to generate strong cash flow for its shareholders. Franchise Group’s business lines include Pet Supplies Plus, American Freight, The Vitamin Shoppe, Buddy’s Home Furnishings, and Liberty Tax Service. On a combined basis, Franchise Group currently operates over 4,600 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising 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 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 dividend amount announced by Franchise Group (FRG)?

Franchise Group announced a quarterly dividend of $0.46875 per share.

When will Franchise Group pay its dividend?

The dividend will be paid on or about July 15, 2021.

What is the record date for Franchise Group's dividend payment?

The record date for the dividend payment is July 1, 2021.

What companies does Franchise Group operate?

Franchise Group operates brands like Pet Supplies Plus, American Freight, and The Vitamin Shoppe.

How many locations does Franchise Group operate?

Franchise Group operates over 4,600 locations across its brands.