National Beverage Corp. Sets Payment Date for Record Dividend
January 21 2021 - 4:15PM
Business Wire
National Beverage Corp. (NASDAQ:FIZZ) today announced that its
Board of Directors set Friday, January 29, 2021, as the payment
date for its previously announced $6.00 per share cash
dividend.
“Calendar year 2020 is spoken about as “the year that never was”
because our lives so drastically changed. The word ‘caring’ will
also reflect a new and more profound definition – forever. This
special dividend is a result of that word ‘caring’ redefined,”
stated a company spokesperson.
“Since 2004, we will have paid total cash dividends of $20.56
per share, or nearly $1 billion. Despite distributing over 80% of
our earnings to our shareholders, we believe our financial
resources and robust cash flows will be more than adequate to
support our leadership position in the fast-growing pure sparkling
water category while also allowing us to take advantage of
strategic opportunities that may arise. After payment of this
record dividend, we anticipate having well in excess of $200
million in cash reserves and undrawn bank lines, and no long-term
debt.
Our velocity in tracked channels continues to outperform the
category led by the 2020 launch of the unique flavors of
LimonCello, Pastèque and Hi-Biscus. We are finalizing exciting,
innovative new products for the market and believe they will be in
the hands of consumers before summer. Retailer acceptance is
strong. Consumer passion for healthy beverages continues unabated.
Momentum is clear. These are just a few of the ingredients for
future optimism. Our second quarter ended October 31st was our
fourth consecutive quarter of year-over-year revenue and earnings
growth and we anticipate our third quarter, which we plan to
announce on or before March 11th, will reflect this positive
continuity. The designator of momentum is usually reserved for the
leader of a category, and in the case of sparkling water, we are
pleased that it clearly has been given to brand LaCroix,” the
company spokesperson concluded.
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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