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. The payment is scheduled for October 11, 2021, to shareholders on record as of September 20, 2021. This cash dividend will be funded by distributions from Utz Brands Holdings, shared pro-rata among common unit holders. Future dividends will depend on the Board’s discretion, considering the company's financial performance and other relevant factors.

Positive

• Quarterly cash dividend of $0.05 per share declared.
• Scheduled payment may enhance shareholder confidence.

Negative

• Future dividends are subject to Board discretion, indicating potential uncertainty.

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 $0.05 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on October 11, 2021, to stockholders of record at the close of business on September 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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005846/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 declared by Utz Brands, Inc. for 2021?

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

When will the dividend payment for Utz Brands, Inc. be made?

The dividend payment is scheduled for October 11, 2021.

What is the record date for the Utz Brands, Inc. dividend payment?

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

How will the dividend be funded for Utz Brands, Inc.?

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

Are future dividends guaranteed for Utz Brands, Inc.?

No, future dividends are subject to the determination of Utz’s Board and depend on various factors.