Coffee Holding Co., Inc. Announces Regular Quarterly Dividend Program of $0.03 Per Share
June 25 2010 - 9:00AM
Coffee Holding Co., Inc. (Nasdaq:JVA) (the "Company") today
announced that its Board of Directors has declared a quarterly cash
dividend on the company's common stock of three cents ($0.03) per
share for stockholders of record as of the close of business on
July 16, 2010. The dividend will be paid on July 29, 2010.
"A regular quarterly dividend program accomplishes our goals of
creating shareholder value while sending a signal to the
marketplace as to the company's current strength," said Andrew
Gordon, President & CEO.
"We want to reward our investors with this modest income to give
them further reason to back our company for the long haul at a time
when many investors are looking for both value and stability in
what has become an increasingly difficult and unstable economic and
investing environment. This payout, with its current 2.4 %
yield, will not prevent us from our achieving our other corporate
growth initiatives, as we continue to generate free cash flow."
About Coffee Holding
Coffee Holding is a leading integrated wholesale coffee roaster
and dealer in the United States and one of the few coffee companies
that offers a broad array of coffee products across the entire
spectrum of consumer tastes, preferences and price
points. Coffee Holding has been a family-operated business for
three generations and has remained profitable through varying
cycles in the coffee industry and the economy. The Company's
private label and branded coffee products are sold throughout the
United States, Canada and abroad to supermarkets, wholesalers, and
individually owned and multi-unit retail customers.
Any statements that are not historical facts contained in this
release are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. We have
based these forward-looking statements upon information available
to management as of the date of this release and management's
expectations and projections about certain future events. It
is possible that the assumptions made by management for purposes of
such statements may not materialize. Actual results may differ
materially from those projected or implied in any forward-looking
statements. Such statements may involve risks and
uncertainties, including but not limited to those relating to
product demand, pricing, market acceptance, the effect of economic
conditions, intellectual property rights, the outcome of
competitive products, risks in product development, the results of
financing efforts, the ability to complete transactions, the
ability to continue the new quarterly dividend program and other
factors discussed from time to time in the Company's Securities and
Exchange Commission filings. The Company undertakes no
obligation to update or revise any forward-looking statement for
events or circumstances after the date on which such statement is
made.
CONTACT: Coffee Holding Co., Inc.
Andrew Gordon, President & CEO
(718) 832-0800
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