YAVNE, Israel ,
Aug. 16, 2021 /PRNewswire/ -- G.
Willi-Food International Ltd. (NASDAQ: WILC) (TASE:
WILF) (the "Company" or "Willi-Food"), a global
company that specializes in the development, marketing and
international distribution of kosher foods, today announced that
the Company's Board of Directors adopted a dividend distribution
policy according to which the Company is to distribute to its
shareholders a dividend at a cumulative annual rate of at least 40%
of the Company's annual net profit according to its most recent
audited or reviewed consolidated financial statements.
Dividend distributions will be made at the sole discretion of
the Company's Board of Directors taking into account, inter
alia, the Company's financial condition from time to time,
including the Company's cash resources, projected cash needs and
liquidity, the Company's growth and investment plans and the
requirements of applicable law.
There is no guarantee if and when the Company will pay dividends
or the scope and timing of any such dividends, and the Company's
Board of Directors retains the discretion at any time to change the
dividend policy, change the dividend rate, decide on the timing and
scope of any dividends or decide not to distribute a dividend at
all.
About G. Willi-Food International Ltd.
G. Willi-Food International Ltd. (http://www.willi-food.com) is
an Israeli-based company specializing in high-quality,
great-tasting kosher food products. Willi-Food is engaged directly
and through its subsidiaries in the design, import, marketing and
distribution of over 600 food products worldwide. As one of
Israel's leading food importers,
Willi-Food markets and sells its food products to over 1,600
customers and 3,200 selling points in Israel and around the world including large
retail and private supermarket chains, wholesalers and
institutional consumers. The Company's operating divisions include
Willi-Food in Israel and Euro
European Dairies (Gold-Frost) Ltd., a wholly owned subsidiary who
designs, develops and distributes branded kosher, dairy-food
products.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within
the meaning of safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to future events or our
future performance, such as statements regarding trends, demand for
our products and expected sales, operating results, and earnings.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied in those forward-looking
statements. These risks and other factors include but are not
limited to: monetary risks including changes in marketable
securities or changes in currency exchange rates- especially the
NIS/U.S. Dollar exchange rate, payment default by any of our major
clients, the loss of one of more of our key personnel, changes in
laws and regulations, including those relating to the food
distribution industry, and inability to meet and maintain
regulatory qualifications and approvals for our products,
termination of arrangements with our suppliers, loss of one or more
of our principal clients, increase or decrease in global purchase
prices of food products, increasing levels of competition in
Israel and other markets in which
we do business, changes in economic conditions in Israel, including in particular economic
conditions in the Company's core markets, our inability to
accurately predict consumption of our products and changes in
consumer preferences, our inability to protect our intellectual
property rights, our inability to successfully integrate our recent
acquisitions, insurance coverage not sufficient enough to cover
losses of product liability claims, risks associated with product
liability claims and risks associated with the start of credit
extension activity. We cannot guarantee future results, levels of
activity, performance or achievements. The matters discussed in
this press release also involve risks and uncertainties summarized
under the heading "Risk Factors" in the Company's Annual Report on
Form 20-F for the year ended December 31,
2020, filed with the Securities and Exchange Commission on
March 25, 2021. These factors are
updated from time to time through the filing of reports and
registration statements with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking information contained in this press
release.
Company Contact:
G. Willi - Food International Ltd.
Yitschak Barabi, Chief Financial
Officer
(+972) 8-932-1000
itsik.b@willi-food.co.il
View original
content:https://www.prnewswire.com/news-releases/g-willi-food-international-announces-adoption-of-dividend-distribution-policy-301355670.html
SOURCE G. Willi-Food International Ltd.