Utz Brands, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.05 per share on its Class A Common Stock, set to be paid on July 12, 2021, to stockholders of record as of June 21, 2021. This dividend will be financed through cash distributions from Utz Brands Holdings, LLC. Future dividends will be determined at the discretion of Utz’s Board of Directors, considering various operational and financial factors. Utz operates several facilities across the U.S., producing a variety of savory snacks.

Positive

• Quarterly cash dividend of $0.05 per share enhances shareholder income.
• Dividend payment signifies confidence in future cash flow and financial stability.

Negative

• None.

Utz Brands, Inc. (NYSE:UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer, marketer and distributor of high-quality, branded snacking products, today announced that its Board of Directors declared a regular quarterly cash dividend of approximately $0.05 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on July 12, 2021, to stockholders of record at the close of business on June 21, 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 fifteen facilities located in Pennsylvania, Alabama, Arizona, Illinois, Indiana, Louisiana, Massachusetts, Michigan 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.

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FAQ

What is the dividend amount declared by Utz Brands?

Utz Brands declared a quarterly cash dividend of $0.05 per share.

When will Utz Brands pay the declared dividend?

The dividend is scheduled for payment on July 12, 2021.

What is the record date for Utz Brands' dividend?

The record date for the dividend is June 21, 2021.

How is the cash dividend funded?

The cash dividend will be funded by distributions from Utz Brands Holdings, LLC.

Are future dividends guaranteed for Utz Brands?

Future dividends are subject to the Board of Directors' discretion and various operational factors.