THOMASVILLE, Ga., May 23, 2019 /PRNewswire/ -- Flowers Foods,
Inc. (NYSE: FLO), producer of Nature's Own, Wonder,
Dave's Killer Bread, Tastykake and other bakery
foods, today announced that its board of directors has declared a
quarterly dividend of $0.19 per
share, an increase of 5.6% over the same quarter last year. This is
the 67th consecutive quarterly dividend paid by the company and is
payable on June 21, 2019 to
shareholders of record on June 7,
2019. This action increases the annualized dividend rate to
$0.76 per share from $0.72 per share at this time last year.
"The board and management team believe Flowers Foods is well
positioned to grow profitably with its leading bakery brands," said
George E. Deese, chairman of the
board. "Our company's strong cash flow is a powerful advantage and
supports both strategic investments and a growing dividend. The
board is confident the company's strategic priorities to profitably
grow brands, aggressively manage costs, invest in product
adjacencies, and develop a team with leading capabilities can
deliver attractive shareholder returns over the long-term."
Flowers' annual shareholders meeting will be held today at
11:00 a.m. Eastern in Thomasville, Ga., where, as previously
announced, Ryals McMullian will assume the position of president
and CEO.
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE:
FLO) is one of the largest producers of fresh packaged bakery foods
in the United States with 2018
sales of $4 billion. Flowers operates
bakeries across the country that produce a wide range of bakery
products. Among the company's top brands are Nature's Own,
Wonder, Tastykake, and Dave's Killer Bread.
Learn more at www.flowersfoods.com.
Forward-Looking Statements
Statements contained in
this press release that are not historical facts are
forward-looking statements. Forward-looking statements relate to
current expectations regarding our future financial condition,
performance and results of operations, planned capital
expenditures, long-term objectives of management, supply and
demand, pricing trends and market forces, and integration plans and
expected benefits of transactions and are often identified by the
use of words and phrases such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"predict," "project," "should," "will," "would," "is likely to,"
"is expected to" or "will continue," or the negative of these terms
or other comparable terminology. All forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ from those projected. Other factors that may cause actual
results to differ from the forward-looking statements contained in
this release and that may affect the company's prospects in general
include, but are not limited to, (a) general economic and business
conditions and the competitive conditions in the baked foods
industry, including promotional and price competition, (b) changes
in consumer demand for our products, including changes in consumer
behavior, trends and preferences, including health and whole grain
trends, and the movement toward more inexpensive store-branded
products, (c) the success of productivity improvements and new
product introductions, (d) a significant reduction in business with
any of our major customers including a reduction from adverse
developments in any of our customer's business, (e) fluctuations in
commodity pricing, (f) energy and raw material costs and
availability and hedging and counterparty risk, (g) our ability to
fully integrate recent acquisitions into our business, (h) our
ability to achieve cash flow from capital expenditures and
acquisitions and the availability of new acquisitions that build
shareholder value, (i) our ability to successfully implement our
business strategies, including those strategies the company has
initiated under Project Centennial, which may involve, among other
things, the integration of recent acquisitions or the acquisition
or disposition of assets at presently targeted values, the
deployment of new systems and technology and an enhanced
organizational structure, (j) consolidation within the baking
industry and related industries, (k) disruptions in our
direct-store delivery system, including litigation or an adverse
ruling from a court or regulatory or government body that could
affect the independent contractor classification of our independent
distributors, (l) increasing legal complexity and legal proceedings
that we are or may become subject to, (m) product recalls or safety
concerns related to our products, and (n) the failure of our
information technology systems to perform adequately, including any
interruptions, intrusions or security breaches of such systems. The
foregoing list of important factors does not include all such
factors, nor necessarily present them in order of importance. In
addition, you should consult other public disclosures made by the
company, including the risk factors included in our most recently
filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q
filed with the Securities and Exchange Commission ("SEC") and
disclosures made in other filings with the SEC and company press
releases, for other factors that may cause actual results to differ
materially from those projected by the company. We caution you not
to place undue reliance on forward-looking statements, as they
speak only as of the date made and are inherently uncertain. The
company undertakes no obligation to publicly revise or update such
statements, except as required by law.
View original
content:http://www.prnewswire.com/news-releases/flowers-foods-increases-quarterly-dividend-300855896.html
SOURCE Flowers Foods, Inc.