National Beverage Corp. Refreshes With Healthy Beverages + Cash!
January 27 2017 - 9:40AM
Business Wire
National Beverage Corp. (NASDAQ:FIZZ) today paid its seventh
special cash dividend and released the following letter to
shareholders written by Nick A. Caporella, Chairman and Chief
Executive Officer:
_________________________________________________________________________________________________________________________________________________________________________________________________________________
January 27, 2017
Dear Fellow FIZZ Holder:
Companies do not end up doing good
for their shareholders...
They start – with their commitment to
the
shareholders – and make good on IT!
Yes, I made this statement in the
past – and it is so genuine and reflective of our great company –
that I want to repeat it – a third time! Today’s cash distribution
of $1.50 per share is the seventh since 2004 – with a cumulative
total of $10.16 per share! We are proud to have paid out more than
73% of total earnings while ‘exponentially’ growing our business
and safeguarding our strong balance sheet.
It is with great pride that I
reflect on the historical performance of National Beverage. Many of
our shareholders have stood with us for years – and their loyalty
has been rewarded with compounded annual returns of more than 23%
per year over the last ten years. Those who have been with us from
our first day as a public company have seen their investment grow
by over 4,000%!
Since May, the beginning of our
fiscal year, we have witnessed an acceleration in our momentum.
Why? . . . This results from ‘exponential’ growth of distribution,
both at the shelf and in new geography, and far more importantly,
the impossible-to-calculate per-capita velocity of our consumers’
consumption!
Month over month, quarter over
quarter, determined health advocates are focusing on mental
hygiene, exercise, and healthier food and beverages! Ingredient
label reading has become mandatory in all purchasing!
Our financial results are reflective
of this momentum. For the twelve months ended October 29, 2016, our
revenues increased over 13%, operating margins expanded by 428
basis points and EBITDA* increased 48% to $137 million.
This special cash dividend is the
first step in a program to maximize shareholder returns. Our Board
has approved in concept an additional cash dividend for
shareholders of record prior to the end of our current fiscal year.
In addition, the development of a ‘loyalty program’ designed to
further reward shareholders based on the length of time they held
their shares is underway.
Although our superior growth . . .
revenues and operating margins lead our industry – our common stock
has not reflected our excellent performance. This is the direct
result of manipulation by those who conversely influence the value
and trading of our common shares for their selfish gains. The
regulatory agencies have closed their eyes to this – we hope the
new administration reacts sensibly. Our ‘titanium’ priority is to
create . . . and continue to create . . . value for long-term,
loyal shareholders.
Excellent cash flows, consumers
aggressively continuing to convert away from sugar, and our dynamic
innovation fuel our optimism for the future. Additionally, new tax
rates will have a very positive effect on earnings for our heavily
tax-burdened company.
There is more than euphoria flowing
through our well-hydrated actions here at your company . . .
Hopefully, both our healthy beverages and healthy performance
enhance your well-being!
With humble thanks . . .
Nick A. Caporella
P.S. ‘Short interest’ truly means .
. . No Interest!
________________________________________________________________________________________________________________________________________________________________________________________________________________
This letter is posted on the Company’s website at
http://ir.nationalbeverage.com/annuals.cfm.
Additionally, the following article describes one example of how
the option market stifled price movement of FIZZ:
http://seekingalpha.com/article/4025862-flat-using-options-data-predict-future-prices
National Beverage’s iconic brands are the
genuine essence . . . of America.
“Patriotism” – If Only We Could Bottle It!
Fun, Flavor and Vitality . . . the National
Beverage Way
This press release and the referenced letter to shareholders
include forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include fluctuations in costs, changes in consumer
preferences and other items and risk factors described in the
Company's Securities and Exchange Commission filings. The Company
disclaims an obligation to update any such factors or to publicly
announce the results of any revisions to any forward-looking
statements contained herein to reflect future events or
developments.
*Although the Company reports its financial results in
accordance with accounting principles generally accepted in the
United States ("GAAP"), management believes that the disclosure of
EBITDA, a non-GAAP financial measure, may provide users with
additional insights into the operating performance of the business.
EBITDA (in millions) for the 12 months ended Oct. 29, 2016 equals
Net Income of $82.4 plus Depreciation & Amortization of $12.4
less Net Interest Income of $.2 plus Provision for Income Taxes of
$42.5.
Shareholder returns are as of October 29, 2016 and assume
reinvestment of dividends.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170127005341/en/
National Beverage Corp.Grace Keene, 877-NBC-FIZZOffice of the
Chairman
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