B&G Foods Increases Quarterly Dividend by 9.5 Percent
October 18 2011 - 5:55PM
Business Wire
B&G Foods, Inc. (NYSE: BGS) announced today that its Board
of Directors increased the Company’s quarterly dividend rate 9.5%
from $0.21 per share of common stock to $0.23 per share of common
stock. On an annualized basis, the dividend increases from $0.84
per share to $0.92 per share. The next quarterly dividend will be
payable on January 30, 2012 to shareholders of record as of
December 30, 2011. At the closing market price of the common stock
on October 18, 2011, the new dividend rate represents an annualized
yield of 5.2%. This is the twenty-ninth consecutive quarterly
dividend declared by the Board of Directors since B&G Foods’
initial public offering in October 2004.
“We are very pleased that our solid financial performance and
strong cash flow generation allow us to increase our dividend for
the second time this year,” stated David L. Wenner,
President and Chief Executive Officer, of B&G Foods. “We
believe that returning cash to our shareholders in the form of
dividends is a key component of B&G Foods’ total shareholder
return.”
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, shelf-stable
foods across the United States, Canada and Puerto Rico. B&G
Foods’ products include hot cereals, fruit spreads, canned meats
and beans, spices, seasonings, hot sauces, wine vinegar, maple
syrup, molasses, salad dressings, Mexican-style sauces, taco shells
and kits, salsas, pickles, peppers and other specialty food
products. B&G Foods competes in the retail grocery, food
service, specialty, private label, club and mass merchandiser
channels of distribution. Based in Parsippany, New Jersey, B&G
Foods’ products are marketed under many recognized brands,
including Ac’cent, B&G, B&M, Brer Rabbit, Cream of
Rice, Cream of Wheat, Don Pepino, Emeril’s,
Grandma’s Molasses, Joan of Arc, Las Palmas,
Maple Grove Farms of Vermont, Ortega, Polaner,
Red Devil, Regina, Sa-són, Sclafani, Trappey’s, Underwood, Vermont
Maid and Wright’s.
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