Golden Grail Beverages (OTC: GOGY) submits corporate action request to FINRA for special stock dividend of Two Shares for every Ten Shares held

Rhea-AI Summary

Golden Grail Beverages (OTC: GOGY) announced a two for ten stock dividend following approval from the board of directors. The Record Date for the dividend is set for June 5, 2023. CEO Steven Hoffman emphasized the company's focus on enhancing shareholder value and expanding its beverage distribution and sales. The dividend will result in shareholders receiving two shares for every ten shares held, with fractional shares rounded up. This decision comes amidst efforts to strengthen the company’s beverage portfolio and increase brand acquisitions to drive growth.

Positive

• Issuance of a two for ten stock dividend enhances shareholder value.
• CEO's commitment to expanding distribution and sales of beverage brands.
• Company actively acquiring emerging beverage brands could drive long-term growth.

Negative

• None.

FORT LAUDERDALE, Fla., April 20, 2023 /PRNewswire/ -- Golden Grail Technology, doing business as Golden Grail Beverages, (OTC: GOGY) announced today that on April 19, 2023 it submitted its corporate action request to FINRA to issue a two for ten stock dividend to its shareholders, and that it set, after being approved by the board of directors, a Record Date of June 5, 2023.

"I am happy to announce the Golden Grail Board determined to increase the previously amnounced special dividend to two shares for every ten shares held to thank our shareholders that have supported us through the challenges of recent weeks." said CEO Steven Hoffman. "We continue our focus on growing distribution and sales of our full line of beverage brands as we build long term value for our Shareholders.

The Dividend will be payable at a ratio of 2:10, meaning that two shares of common stock will be issued for every ten shares of Company common stock held by a shareholders as of the Record Date. In lieu of distributing fractional shares, the Company will round up any shares that would otherwise be fractional.

Golden Grail Beverages (OTC: GOGY) www.GoldenGrailBeverages.com is a fast-growing company with a strategic mission to innovate, build and streamline the growth of its beverage portfolio through fiscally responsible investing. The company targets brands with a proven sales history, loyal consumer following, retail presence and strong value proposition who need assistance to get to the next few levels. Golden Grail has been actively acquiring brands within emerging and growing beverage categories. Our robust product offerings include Sway Energy Drink, Spider Energy Drink, Trevi Fruit Essence Water, Tickle Water, Sketch Can for Tweens, Cause Water & KOZ Water helping reduce global plastic pollution and Scorpion Energy Hemp/CBD. 

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Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition. Also, it includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise.   

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SOURCE Golden Grail Technology Corp

FAQ

What is the dividend payout ratio for GOGY shareholders?

Golden Grail Beverages announced a two for ten stock dividend, meaning shareholders will receive two shares for every ten shares they hold.

When is the record date for the GOGY stock dividend?

The record date for the two for ten stock dividend is set for June 5, 2023.

What is the purpose of the stock dividend issued by GOGY?

The stock dividend aims to thank shareholders for their support and to enhance shareholder value.