National Beverage Corp. Declares Cash Dividend
November 24 2020 - 4:15PM
Business Wire
National Beverage Corp. (NASDAQ: FIZZ), with growth of its
LaCroix brand continuing to outpace the sparkling water category,
today announced the parameters of a special cash dividend.
The year 2020 will be remembered for ‘crisis’ and how to manage
a business during a devastating pandemic with lasting effects.
While we have witnessed much, we at National Beverage have truly
been blessed. Our good fortune allows us to share profound
innovation that major retailers and others continue to imitate,
which further expands the sparkling water category.
The Board of Directors declared a minimum cash dividend of $3.00
per share to shareholders of record on December 4, 2020. The
minimum cash dividend could be adjusted by notice to shareholders
no later than December 2, 2020. FIZZ will trade ex-dividend on
December 3, 2020 and the payment date for this distribution shall
be on or before February 2, 2021.
“This tenth cash dividend paid since 2004 reflects our latest
step to reward shareholders. Our balance sheet provides the ability
to pay this dividend, while preserving the financial and
operational flexibility to continue to grow our business, reward
employees and create shareholder value over the long-term. The
Board has requested additional analysis as a result of uncertainty
regarding the consequences of increasing Covid-19 infections and
future tax policy before determining the final payment amount per
share. Prior to this dividend, FIZZ holders have received cash
dividends of $14.56 per share, or $675 million,” stated the company
spokesperson.
National Beverage plans to announce financial results for its
second quarter ended October 31, 2020 on or before December 10,
2020.
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The Company disclaims an obligation to update or announce
revisions to any forward-looking statements.
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