Utz Brands, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of approximately $0.057 per share on its Class A Common Stock. This payment will be made on May 4, 2023, to stockholders of record as of April 17, 2023. The cash dividend will be financed through cash distributions from Utz Brands Holdings to Utz and other holders of its common units. Future dividends will depend on the Board's evaluations of the company's operational results and financial condition. Utz Brands manufactures various popular snack brands, showcasing a commitment to quality and consumer satisfaction, with multiple facilities across the U.S.

Positive

• Declaration of a quarterly cash dividend of $0.057 per share.
• Payment date set for May 4, 2023, providing income for shareholders.

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 $0.057 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on May 4, 2023, to stockholders of record at the close of business on April 17, 2023.

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/20230406005155/en/

Utz Brands, Inc.:



Investor

Kevin Powers

kpowers@utzsnacks.com



Media

Kevin Brick

kbrick@utzsnacks.com

Source: Utz Brands, Inc.

FAQ

What is the dividend amount for Utz Brands, Inc.?

Utz Brands, Inc. has declared a quarterly cash dividend of approximately $0.057 per share.

When is the payment date for Utz's dividend?

The payment date for the dividend is May 4, 2023.

Who is eligible for the dividend from Utz Brands?

Stockholders of record as of April 17, 2023, are eligible for the dividend.

How is the cash dividend funded?

The cash dividend will be funded by cash distributions made by Utz Brands Holdings to Utz.

Will Utz Brands continue to pay dividends in the future?

Future dividend declarations will be determined by Utz's Board of Directors based on various factors.