John B. Sanfilippo & Son, Inc. Declares $1.25 Per Share Special Dividend and a Regular Annual Dividend of $0.85 Per Share
John B. Sanfilippo & Son (NASDAQ: JBSS) has announced a special cash dividend of $1.25 per share and a regular annual dividend of $0.85 per share on all issued and outstanding shares of Common Stock and Class A Common Stock. The total payout of approximately $24.6 million will be distributed to stockholders on September 11, 2024, with a record date of August 20, 2024. This marks the seventh consecutive year of increasing the Annual Dividend, with a $0.05 increase over last year. CEO Jeffrey T. Sanfilippo attributed this decision to the company's strong financial performance in the first three quarters of fiscal 2024, emphasizing their commitment to creating long-term stockholder value.
- Special cash dividend of $1.25 per share announced
- Regular annual dividend increased to $0.85 per share
- Total dividend payout of approximately $24.6 million
- Seventh consecutive year of increasing Annual Dividend
- Strong financial performance in first three quarters of fiscal 2024
- None.
The Special Dividend and the Annual Dividend will be paid on September 11, 2024, to stockholders of record as of the close of business on August 20, 2024.
“We are pleased to announce the
ABOUT THE COMPANY
John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit-based products, snack bars, and dried cheese snacks that are sold under a variety of private brands and under the Company’s Fisher®, Orchard Valley Harvest®, Squirrel Brand®, Southern Style Nuts®, and Just the Cheese® brand names.
Forward Looking Statements
Some of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such as a decline in sales to one or more key customers, or to customers or in the nut category generally, in some or all channels, a change in product mix to lower price products, a decline in sales of private brand products or changing consumer preferences, including a shift from higher margin products to lower margin products; (ii) changes in the availability and costs of raw materials and ingredients and the impact of fixed price commitments with customers; (iii) the ability to pass on price increases to customers if commodity costs rise and the potential for a negative impact on demand for, and sales of, our products from price increases; (iv) the ability to measure and estimate bulk inventory, fluctuations in the value and quantity of the Company’s nut inventories due to fluctuations in the market prices of nuts and bulk inventory estimation adjustments, respectively; (v) the Company’s ability to appropriately respond to, or lessen the negative impact of, competitive and pricing pressures; (vi) losses associated with product recalls, product contamination, food labeling or other food safety issues, or the potential for lost sales or product liability if customers lose confidence in the safety of the Company’s products or in nuts or nut products in general, or are harmed as a result of using the Company’s products; (vii) the ability of the Company to control costs (including inflationary costs) and manage shortages in areas such as inputs, transportation and labor; (viii) uncertainty in economic conditions, including the potential for inflation or economic downturn leading to decreased consumer demand; (ix) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the Company’s control; (x) the adverse effect of labor unrest or disputes, litigation and/or legal settlements, including potential unfavorable outcomes exceeding any amounts accrued; (xi) losses due to significant disruptions at any of our production or processing facilities or employee unavailability due to labor shortages; (xii) the ability to implement our Long-Range Plan, including growing our branded and private brand product sales, diversifying our product offerings (including by the launch of new products) and expanding into alternative sales channels; (xiii) technology disruptions or failures or the occurrence of cybersecurity incidents or breaches; (xiv) the inability to protect the Company’s brand value, intellectual property or avoid intellectual property disputes; (xv) our ability to manage the impacts of changing weather patterns on raw material availability due to climate change; and (xvi) our ability to operate and integrate the acquired snack bar related assets of TreeHouse and realize efficiencies and synergies from such acquisition.
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Company
Frank S. Pellegrino
Chief Financial Officer
847-214-4138
Investor Relations
John Beisler or Steven Hooser
Three Part Advisors, LLC
817-310-8776
Source: John B. Sanfilippo & Son, Inc.
FAQ
What is the total dividend amount declared by John B. Sanfilippo & Son (JBSS) for 2024?
When will JBSS pay the special and annual dividends in 2024?
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