Utz Brands Board of Directors Increases Quarterly Cash Dividend

Rhea-AI Summary

Utz Brands, Inc. (NYSE:UTZ) announced an annual dividend increase from $0.20 to $0.216 per share, effective immediately. A quarterly cash dividend of approximately $0.054 per share will be paid on January 10, 2022, to shareholders on record by December 20, 2021. This decision reflects the company's growth since its IPO in 2020, with funding from distributions by Utz Brands Holdings. Future dividends will depend on the Board's discretion, considering operational results and financial condition.

Positive

• Annual dividend increased from $0.20 to $0.216 per share.
• Quarterly cash dividend declared at $0.054 per share.
• Dividend increase reflects the company's growth since going public.

Negative

• None.

HANOVER, Pa.--(BUSINESS WIRE)-- Utz Brands, Inc. (NYSE:UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks, today announced that its Board of Directors has approved an annual dividend increase from $0.20 to $0.216 per share. This increase is supported by the Company’s growth since going public in 2020.

The increase is effective as of today, and the Utz Board of Directions has declared a regular quarterly cash dividend of approximately $0.054 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on January 10, 2022, to stockholders of record at the close of business on December 20, 2021.

The cash dividend will be funded by cash distributions made by Utz Brands Holdings, LLC (“Utz Brands Holdings”) to Utz and the other holders of Utz Brands Holdings’ common units on a pro-rata basis.

Future declarations of quarterly or other dividends are subject to the determination and discretion of Utz’s Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition and other factors that Utz’s Board of Directors may deem relevant.

About Utz Brands, Inc.
Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands including Utz®, ON THE BORDER® Chips & Dips, Golden Flake®, Zapp’s®, Good Health®, Boulder Canyon®, Hawaiian® Brand, and TORTIYAHS!®, among others.

After a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug and other channels. Based in Hanover, Pennsylvania, Utz operates 17 facilities located in Alabama, Arizona, Illinois, Indiana, Louisiana, Massachusetts, Michigan, Nevada, North Carolina, Pennsylvania, and Washington. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX.

Forward-Looking Statements
Certain statements made herein are not historical facts but are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as “will”, “expect”, “intends”, “goal” or other similar words, phrases or expressions. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties and the Company’s business and actual results may differ materially.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005692/en/

Investor

Kevin Powers

kpowers@utzsnacks.com

Media

Kevin Brick

kbrick@utzsnacks.com

Source: Utz Brands, Inc.

FAQ

What is the new dividend amount for Utz Brands (UTZ)?

The new annual dividend amount for Utz Brands is $0.216 per share.

When will Utz Brands (UTZ) pay the quarterly cash dividend?

The quarterly cash dividend will be paid on January 10, 2022.

What is the record date for the Utz Brands (UTZ) dividend payment?

The record date for the dividend payment is December 20, 2021.

How is the Utz Brands (UTZ) dividend funded?

The dividend is funded by cash distributions made by Utz Brands Holdings to Utz and other holders of its common units.

Are future dividends guaranteed for Utz Brands (UTZ)?

Future dividends are subject to the discretion of Utz’s Board of Directors, based on various financial factors.