Armanino Foods Declares Regular and Special Dividends Totaling 3.75 Cents Per Share
Posted on: Monday, 11 December 2006, 15:00 CST
The Board of Directors of Armanino Foods of Distinction (Pink Sheets:AMNF) today declared the regular quarterly dividend of 1.25 cents per share, together with a special dividend of an additional 2.5 cents per share. Together, these payments amount to 3.75 cents per share and will be payable on or about Jan. 26, 2007 to shareholders of record of Jan. 5, 2007.
"Through the first nine months of this year," said William Armanino, the company's President and CEO, "our sales are up 15%, our net income is up 65% and our earnings per share have more than doubled over the same period last year. We are confident that we are headed for a record full year in sales and earnings.
"We have more than $1.6 in cash and cash equivalents on hand, and can meet the growing demands for our products as well as meet our capital investment needs. In this perspective, we wanted to share our progress with the shareholders who have shown so much confidence in our company."
Although these dividends will not actually be paid until next month, for 2006 AMNF declared 7.5 cents per share in regular and special dividends. The company calculates that at recent share prices, this is a yield of about 9% per annum per share.
Armanino is an international food company that manufactures and markets frozen pesto, including Basil, Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Organic Basil and Organic Dried Tomato Garlic. Additionally Armanino produces Mushroom, Alfredo, White sauces, filled pasta products, meatballs, cooked poultry products, garlic spreads and Focaccia to the food service, industrial, institutional industry.
Armanino Foods is listed under the stock symbol AMNF.PK.
Source: Business Wire
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