B&G Foods Declares Regular Quarterly Dividend
March 11 2015 - 8:30AM
Business Wire
Also Announces Cynthia T. Jamison Has
Decided Not to Stand for Re-Election to the Board
B&G Foods, Inc. (NYSE:BGS) announced today that its Board of
Directors has declared a regular quarterly cash dividend of $0.34
per share of common stock. The dividend is payable on April 30,
2015 to shareholders of record as of March 31, 2015. At the closing
market price of the common stock on March 10, 2015, the current
dividend represents an annualized yield of 4.9%. This is the 42nd
consecutive quarterly dividend declared by the Board of Directors
since B&G Foods’ initial public offering in October
2004.
The Company also announced today that Cynthia T. Jamison has
decided not to seek re-election to the Company’s Board of
Directors. Her term will expire at the 2015 annual meeting of
stockholders scheduled for May 19, 2015. The Board of Directors is
currently reviewing candidates to replace Ms. Jamison.
“After ten plus years as a Board member of B&G Foods, I
believe it is a good time to allow for new perspectives to be
integrated at the Board level,” stated Ms. Jamison. “I have been
very proud to be a small part of B&G Foods’ impressive growth
and success. I have great respect for both management and the Board
and wish them great success in the future.”
“On behalf of B&G Foods and the entire Board of Directors, I
would like to thank Cindie for her extraordinary service to our
Company,” said Stephen C. Sherrill, Chairman of the of the Board of
Directors. “Since joining B&G Foods’ Board of Directors upon
our initial public offering in 2004, Cindie has made an outstanding
contribution to the Company as chairman of the Audit Committee and
member of the Compensation Committee, and has been an influential
voice in the boardroom. During Cindie’s tenure on the Board, the
Company’s market capitalization has increased from $216 million to
$1.5 billion.”
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, branded
shelf-stable foods across the United States, Canada and Puerto
Rico. Based in Parsippany, New Jersey, B&G Foods’
products are marketed under many recognized brands, including
Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country
Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s,
Grandma’s Molasses, JJ Flats, Joan of Arc,
Las Palmas, MacDonald’s, Maple Grove Farms, Molly
McButter, Mrs. Dash, New York Flatbreads,
New York Style, Old London, Original Tings, Ortega,
Pirate’s Booty, Polaner, Red Devil, Regina, Rickland Orchards,
Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin,
Trappey’s, TrueNorth, Underwood, Vermont Maid and Wright’s.
B&G Foods also sells and distributes two branded household
products, Static Guard and Kleen Guard.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of B&G Foods to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements that
explicitly describe such risks and uncertainties readers are urged
to consider statements labeled with the terms “believes,” “belief,”
“expects,” “projects,” “intends,” “anticipates” or “plans” to be
uncertain and forward-looking. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in
B&G Foods’ filings with the Securities and Exchange
Commission, including under Item 1A, “Risk Factors” in the
Company’s most recent Annual Report on Form 10-K and in its
subsequent reports on Forms 10-Q and 8-K. Investors are cautioned
not to place undue reliance on any such forward looking statements,
which speak only as of the date they are made. B&G Foods
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
B&G Foods, Inc.Investor Relations:ICR, Inc.Don Duffy,
866-211-8151orMedia Relations:ICR, Inc.Matt Lindberg,
203-682-8214
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