Utz Brands Board of Directors Increases Quarterly Cash Dividend

Rhea-AI Summary

Utz Brands, Inc. (NYSE: UTZ) has announced an annual dividend increase from $0.216 to $0.228 per share. The quarterly cash dividend of approximately $0.057 per share is effective immediately and will be paid on January 5, 2023, to stockholders of record by December 19, 2022. This dividend is supported by Utz's growth since its IPO in 2020, with future dividends subject to the Board's discretion based on various financial factors.

Positive

• Annual dividend increased from $0.216 to $0.228 per share.
• Quarterly dividend of approximately $0.057 per share declared.
• The 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 $0.216 to $0.228 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 Directors has declared a regular quarterly cash dividend of approximately $0.057 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on January 5, 2023, to stockholders of record at the close of business on December 19, 2022.

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 has multiple manufacturing facilities located across the U.S. to serve our growing customer base. 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/20221208005689/en/

Investor

Kevin Powers

Utz Brands, Inc.

kpowers@utzsnacks.com



Media

Kevin Brick

Utz Brands, Inc.

kbrick@utzsnacks.com

Source: Utz Brands, Inc.

FAQ

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

The new dividend amount for Utz Brands is $0.228 per share.

When will the dividend be paid to shareholders of Utz (UTZ)?

The dividend will be paid on January 5, 2023.

What was the previous dividend amount for Utz Brands (UTZ)?

The previous dividend amount was $0.216 per share.

What is the payment date for the upcoming dividend from Utz (UTZ)?

The payment date for the upcoming dividend is January 5, 2023.

Who are the recipients of the dividend payment for Utz (UTZ)?

Shareholders of record as of December 19, 2022, will receive the dividend payment.