HAWKINS, INC. INCREASES QUARTERLY CASH DIVIDEND BY 5%, APPROVES 2-FOR-1 STOCK SPLIT

Rhea-AI Summary

The Board of Directors of Hawkins (Nasdaq: HWKN) declared a quarterly cash dividend of $0.2450 per share, payable on February 26, 2021, to shareholders on record by February 12, 2021. This reflects Hawkins' continuous commitment to dividends since 1985. Additionally, a two-for-one stock split was approved, effective on March 1, 2021, with a record date of February 19, 2021, increasing outstanding shares from 10.6 million to 21.2 million. CEO Patrick H. Hawkins expressed confidence in the company's growth prospects.

Positive

• Quarterly cash dividend of $0.2450 per share enhances shareholder income.
• Approval of a two-for-one stock split increases market liquidity and broadens distribution.

Negative

• None.

ROSEVILLE, Minn., Jan. 28, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Hawkins, Inc. (Nasdaq:  HWKN), at its meeting on January 28, 2021, declared a quarterly cash dividend of $0.2450 per share payable February 26, 2021, to shareholders of record at the close of business on February 12, 2021.  Hawkins has consistently paid out a dividend since 1985.

The Company’s Board of Directors also approved a two-for-one split of the Company’s stock.  The record date for the split is February 19, 2021, and the distribution date is expected to be March 1, 2021.  The split will increase the number of outstanding shares from approximately 10.6 million shares to approximately 21.2 million shares.

“This stock split, coupled with another increase in our cash dividend, reflects our confidence in the Company’s future growth potential,” said Patrick H. Hawkins, Chief Executive Officer and President.  “We believe an increase in total shares outstanding will increase liquidity and broaden the market for the Company’s stock and widen its distribution.” 

About Hawkins, Inc.

Hawkins, Inc. was founded in 1938 and is a leading specialty chemical company that distributes, blends and manufactures chemicals and other specialty ingredients for its Industrial, Water Treatment, and Health & Nutrition customers.  Headquartered in Roseville, Minnesota, and with 46 facilities in 21 states, the Company creates value for its customers through superb customer service and support, quality products and personalized applications.  Hawkins, Inc. generated $540 million of revenue in fiscal 2020 and has approximately 700 employees.  For more information, including registering to receive email alerts, please visit www.hawkinsinc.com/investors.