THOMASVILLE, Ga., Feb. 18, 2022 /PRNewswire/ -- Flowers Foods, Inc.
(NYSE: FLO), producer of Nature's Own, Dave's Killer
Bread, Wonder, Canyon Bakehouse, Tastykake, and other
bakery foods, today announced that its board of directors has
declared a quarterly dividend of $
0.21 per share, an increase of 5% over the same quarter last
year. This is the 78th consecutive quarterly dividend paid by the
company and is payable on March 18,
2022, to shareholders of record on March 4, 2022.
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE:
FLO) is one of the largest producers of packaged bakery foods in
the United States with 2021 sales
of $4.3 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,
Dave's Killer Bread, Wonder, Canyon Bakehouse, and
Tastykake. Learn more at www.flowersfoods.com.
FLO–CORP FLO–DIV FLO–IR
Forward-Looking Statements
Statements contained in
this filing and certain other written or oral statements made from
time to time by Flowers Foods, Inc. (the "company", "Flowers
Foods", "Flowers", "us", "we", or "our") and its representatives
that are not historical facts are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements relate to current expectations regarding
our future financial condition and results of operations and the
ultimate impact of the novel strain of coronavirus ("COVID-19") on
our business, results of operations and financial condition 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. These
forward-looking statements are based upon assumptions we believe
are reasonable. Forward-looking statements are based on current
information and are subject to risks and uncertainties that could
cause our actual results to differ materially from those projected.
Certain factors that may cause actual results, performance,
liquidity, and achievements to differ materially from those
projected are discussed in our Annual Report on Form 10-K (the
"Form 10-K") and Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission ("SEC') and may include, but are
not limited to, (a) unexpected changes in any of the following:
(1) general economic and business conditions; (2) the
competitive setting in which we operate, including advertising or
promotional strategies by us or our competitors, as well as changes
in consumer demand; (3) interest rates and other terms
available to us on our borrowings; (4) energy and raw
materials costs and availability and hedging counter-party risks;
(5) relationships with or increased costs related to our
employees and third-party service providers; (6) laws and
regulations (including environmental and health-related issues);
and (7) accounting standards or tax rates in the markets in which
we operate, (b) the ultimate impact of the COVID-19 pandemic and
future responses and/or measures taken in response thereto,
including, but not limited to, new and emerging variants of the
virus and the efficacy and distribution of vaccines, which are
highly uncertain and are difficult to predict, (c) our ability to
manage the demand, supply and operational challenges with the
actual or perceived effects of the COVID-19 pandemic; (d) the loss
or financial instability of any significant customer(s), including
as a result of product recalls or safety concerns related to our
products, (e) changes in consumer behavior, trends and preferences,
including health and whole grain trends, and the movement toward
more inexpensive store branded products, (f) the level of success
we achieve in developing and introducing new products and entering
new markets, (g) our ability to implement new technology and
customer requirements as required, (h) our ability to operate
existing, and any new, manufacturing lines according to schedule,
(i) our ability to implement and achieve our environmental, social,
and governance ("ESG") goals in accordance with suppliers,
regulations, and customers; (j) our ability to execute our business
strategies which may involve, among other things, (1) the
integration of acquisitions or the acquisition or disposition of
assets at presently targeted values, (2) the deployment of new
systems and technology, and (3) an enhanced organizational
structure, (k) consolidation within the baking industry and related
industries, (l) changes in pricing, customer and consumer reaction
to pricing actions (including decreased volumes), and the pricing
environment among competitors within the industry, (m) our ability
to adjust pricing to offset, or partially offset, inflationary
pressure on the cost of our products; (n) disruptions in our
direct-store-delivery distribution model, including litigation or
an adverse ruling by a court or regulatory or governmental body, or
other regulatory developments, that could affect the independent
contractor classifications of the independent distributor partners,
(n) increasing legal complexity and legal proceedings that we are
or may become subject to, (p) labor shortages and turnover or
increases in employee and employee-related costs, (q) the credit,
business, and legal risks associated with independent distributor
partners and customers, which operate in the highly competitive
retail food and foodservice industries, (r) any business
disruptions due to political instability, pandemics, armed
hostilities, incidents of terrorism, natural disasters, labor
strikes or work stoppages, technological breakdowns, product
contamination, product recalls or safety concerns related to our
products, or the responses to or repercussions from any of these or
similar events or conditions and our ability to insure against such
events, (s) the failure of our information technology systems to
perform adequately, including any interruptions, intrusions or
security breaches of such systems or risks associated with the
planned implementation of a new enterprise resource planning
("ERP") system; and (t) the potential impact of climate change on
the company, including physical and transition risks, higher
regulatory and compliance costs, reputational risks, and
availability of capital on attractive terms. 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 disclosures made by the company (such as in
our other filings with the SEC or in company press releases) for
other factors that may cause actual results to differ materially
from those projected by the company. Refer to Part I,
Item 1A., Risk Factors, of the Form 10-K and Part II,
Item 1A., Risk Factors of the Form 10-Q for the quarter ended
October 9, 2021 for additional information regarding factors that
could affect the company's results of operations, financial
condition and liquidity. 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. You are advised, however, to consult any further
public disclosures by the company (such as in our filings with the
SEC or in company press releases) on related subjects.
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SOURCE Flowers Foods, Inc.