Utz Brands, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Utz Brands, Inc. (NYSE:UTZ) announced a quarterly cash dividend of $0.054 per share on its Class A Common Stock, payable on July 7, 2022, to stockholders of record by June 20, 2022. The dividend will be funded by cash distributions from Utz Brands Holdings to Utz and other common unit holders. Future dividends will depend on the Board's discretion and are influenced by the Company's financial health and operational results.

Positive

• Quarterly cash dividend of $0.054 per share reflects ongoing shareholder value.
• Dividend funding through cash distributions indicates financial liquidity.

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 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 July 7, 2022, to stockholders of record at the close of business on June 20, 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 its 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/20220609005901/en/

UTZ Brands, Inc. Contacts:



Investor

Kevin Powers

kpowers@utzsnacks.com



Media

Kevin Brick

kbrick@utzsnacks.com

Source: Utz Brands, Inc.

FAQ

What is the dividend amount declared by Utz Brands?

Utz Brands declared a dividend of $0.054 per share on its Class A Common Stock.

When will the dividend be paid to shareholders?

The dividend will be paid on July 7, 2022, to shareholders of record as of June 20, 2022.

How is the dividend funded?

The dividend is funded by cash distributions from Utz Brands Holdings to Utz and other common unit holders.

Are future dividends guaranteed?

Future dividend declarations are at the discretion of Utz's Board of Directors and depend on various financial factors.