Franchise Group, Inc. Announces Approval of Quarterly Preferred Dividend

Rhea-AI Summary

Franchise Group (NASDAQ: FRG) announced a quarterly dividend of $0.46875 per share for its Series A Cumulative Perpetual Preferred stockholders. This cash dividend will be paid on April 15, 2022, to those on record as of the close of business on April 1, 2022. Franchise Group operates a diverse portfolio of over 3,000 locations across various brands including Pet Supplies Plus and The Vitamin Shoppe, focusing on generating strong cash flow for shareholders.

Positive

• Quarterly dividend of $0.46875 per share demonstrates commitment to returning value to shareholders.
• Franchise Group operates over 3,000 locations, indicating a strong market presence.

Negative

• None.

DELAWARE, Ohio, Feb. 23, 2022 (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 April 15, 2022 to holders of record of the Company’s Series A preferred stock on the close of business on April 1, 2022.

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 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?

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

When will Franchise Group pay the dividend?

The dividend will be paid on April 15, 2022.

Who is eligible for the Franchise Group dividend?

Only holders of Series A Cumulative Perpetual Preferred stock on record as of April 1, 2022, are eligible.

How many locations does Franchise Group operate?

Franchise Group operates over 3,000 locations across various brands.

What brands are included in Franchise Group's portfolio?

Franchise Group includes brands such as Pet Supplies Plus, The Vitamin Shoppe, and American Freight.