Natural Grocers by Vitamin Cottage, Inc. Declares Special Dividend and Quarterly Dividend

Rhea-AI Summary

Natural Grocers by Vitamin Cottage (NYSE: NGVC) has declared a special cash dividend of $2.00 per share, payable on December 16, 2020, to stockholders of record by November 30, 2020. Additionally, a quarterly cash dividend of $0.07 will also be distributed on the same date. The special dividend will be funded through available cash and a $35.0 million term loan facility. This reinforces the company’s commitment to providing shareholder returns while maintaining a sustainable business model.

Positive

• Declaration of a special cash dividend of $2.00 per share.
• Quarterly cash dividend of $0.07 per share enhances shareholder value.
• Funding for special dividend secured through available cash and a $35 million term loan facility.

Negative

• None.

LAKEWOOD, Colo., Nov. 19, 2020 /PRNewswire/ -- Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) today announced that the Company's Board of Directors (the Board) has declared a special cash dividend of $2.00 per share of common stock. The special dividend will be paid on December 16, 2020 to all stockholders of record at the close of business on November 30, 2020. The special dividend will be funded through available cash and borrowings under the Company's new $35.0 million term loan facility.

Additionally, the Company announced that the Board has also declared a quarterly cash dividend of $0.07 per share of common stock. The quarterly dividend will also be paid on December 16, 2020 to all stockholders of record at the close of business on November 30, 2020.

About Natural Grocers by Vitamin Cottage

Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products and dietary supplements. The products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial colors, flavors, preservatives or sweeteners, or partially hydrogenated or hydrogenated oils. The Company sells only USDA certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers' flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, safe and convenient retail environment. The Company also provides extensive free science-based nutrition education programs to help customers make informed health and nutrition choices. The Company, founded in 1955, has 160 stores in 20 states.

Visit www.NaturalGrocers.com for more information and store locations.

Forward-Looking Statements

The following constitutes a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995. Except for the historical information contained herein, statements in this release are "forward-looking statements" and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements that are not statements of historical fact are forward-looking statements. Actual results could differ materially from those described in the forward-looking statements because of factors such as risks and challenges related to the COVID-19 pandemic and government mandates, the economy, changes in the Company's industry, business strategy, goals and expectations concerning the Company's market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, future growth, other financial and operating information and other risks detailed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2019 (the Form 10-K) and the Company's subsequent quarterly reports on Form 10-Q. The information contained herein speaks only as of the date of this release and the Company undertakes no obligation to update forward-looking statements, except as may be required by the securities laws.

For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Form 10-K and the Company's subsequent quarterly reports on Form 10-Q, copies of which may be obtained by contacting Investor Relations at 303-986-4600 or by visiting the Company's website at http://Investors.NaturalGrocers.com.

Investor Contact:

Scott Van Winkle, ICR, Managing Director, 617-956-6736, scott.vanwinkle@icrinc.com

 

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SOURCE Natural Grocers by Vitamin Cottage, Inc.

FAQ

What is the special dividend amount declared by Natural Grocers (NGVC)?

Natural Grocers declared a special cash dividend of $2.00 per share.

When will the special dividend be paid to Natural Grocers (NGVC) shareholders?

The special dividend will be paid on December 16, 2020.

What is the quarterly dividend amount for Natural Grocers (NGVC)?

The quarterly cash dividend is $0.07 per share.

When is the record date for dividends for Natural Grocers (NGVC)?

The record date for both dividends is November 30, 2020.