Turning Point Brands, Inc. - TPB STOCK NEWS

Turning Point Brands, Inc. (NYSE: TPB) has declared a quarterly dividend of $0.055 per common share, payable on July 9, 2021. Shareholders on record as of the close of business on June 18, 2021 will receive this dividend. TPB specializes in branded consumer products including alternative smoking accessories and consumables, with its products available in over 210,000 retail outlets across North America. The company is recognized for its core brands such as Zig-Zag and Stoker’s.

Turning Point Brands, Inc. (TPB) has launched the 'Burn One / Plant One' initiative in partnership with One Tree Planted, aiming to plant a tree for every online purchase over $15 from Zig-Zag. This program addresses climate change and seeks to offset carbon emissions linked to paper production. Zig-Zag intends to achieve carbon neutrality by 2031. The company's rolling paper products are sourced from responsibly managed forests, complying with strict environmental standards.

Turning Point Brands (TPB) reported strong financial results for the first quarter of 2021, with net sales rising 18.7% to $107.6 million. Gross profit increased 28.6% to $53.3 million, while net income grew by $7.3 million to $11.8 million. Adjusted EBITDA jumped 57.4% to $28.0 million, yielding a diluted EPS of $0.57 compared to $0.22 a year ago. Key growth drivers included Zig-Zag products, which saw a 41.8% sales increase, and Stoker’s products with a 10.4% rise. The company also made a strategic $8.7 million investment in Docklight Brands.

Turning Point Brands (TPB) has made an $8.7 million strategic investment in Docklight Brands, gaining exclusive U.S. distribution rights for Docklight's Marley™ CBD topical products. This investment allows TPB to access well-known brands, including Bob Marley® and Zig-Zag®. The Marley CBD skincare line features products like hand cream and lip balm, available in over 12,000 retail locations. TPB aims to expand its portfolio and distribution network, enhancing product visibility across North America.

Turning Point Brands (NYSE: TPB) has scheduled a conference call to discuss its first quarter 2021 results on Tuesday, April 27, 2021, at 10:00 a.m. Eastern Time. The call will allow participants to engage with the investment community and will be accessible via designated call-in numbers: (833) 350-1456 for U.S. participants and (647) 689-6664 for international callers. An audio webcast will be available live on the company's investor relations website, with a replay accessible two hours post-call.

Turning Point Brands (TPB) announces the appointment of Louie Reformina as its new CFO, effective May 1, 2021, replacing Bobby Lavan, who is leaving for a new opportunity. Reformina, who joined TPB in 2019, has over 20 years of financial experience. TPB also reported preliminary net sales for Q1 2021 expected at the high end of previous guidance, between $97 million and $102 million. The leadership transition aims to ensure continuity and reinforce the company's growth strategy in the cannabis-related market.

The Board of Directors of Turning Point Brands, Inc. (TPB) has declared a quarterly dividend of $0.055 per common share, reflecting a 10% increase from the previous dividend announced in November 2020. This dividend will be payable on April 9, 2021, to shareholders on record as of March 19, 2021. Turning Point Brands is engaged in the manufacturing and distribution of branded consumer products, including alternative smoking accessories through well-known brands such as Zig-Zag® and Stoker’s®.

Turning Point Brands, Inc. (TPB) announced the pricing of an underwritten registered block trade of 2,000,000 shares at $56.00 each, conducted by funds affiliated with Standard General L.P. The underwriter also received an option to buy 300,000 additional shares. The offering is set to close around February 18, 2023, subject to customary conditions. TPB will not receive any proceeds as it is not offering shares. Barclays is the underwriter for this offering, which is detailed in the filed registration statement with the SEC.

Turning Point Brands (TPB) has announced a proposed block trade of 2,000,000 shares of its common stock by funds affiliated with Standard General L.P. The underwriters, led by Barclays, may purchase an additional 300,000 shares for overallotments. This offering follows a Registration Statement on Form S-3 approved by the SEC on August 14, 2020. TPB will not issue new shares or receive proceeds from this sale, as it is strictly facilitated by the Selling Stockholders. Investors are advised to review the details in the preliminary prospectus.