Dividend declared,
Armanino Foods of Distinction, Inc. (OTCQX: AMNF) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.0363 per share. The dividend will be payable to shareholders of record on September 30, 2024 and will be disbursed on or about October 25, 2024. This is the Company’s 96th consecutive quarterly dividend. In addition, the Company has had eleven special dividends.
Douglas R. Nichols, Chairman of the Board stated, “Maintaining our highest payout per share in our history represents our continued confidence in our financial position, as well as our focus on sharing our success with our shareholders. We remain confident in management’s ability to achieve best in class results as demonstrated by our dividend history, as well as our recent announcement concerning our graduation to the OTCQX Market.”
Tim Anderson, President, and CEO commented, “We remain confident in our ability to build upon our strong foundation and continue strengthening our financial position as we seek to penetrate new markets, improve margins and meet the emerging needs of our diverse customer base, and ultimately, end user consumers. Our working capital position has continued to grow based on the strength of our operating performance. This strength will allow us to provide enhanced value to our investors as well as the financial flexibility to continue to consider various strategic investments to support growth opportunities.”
Anderson concluded, “Our financial position remains strong affording us the opportunity to continually invest in diversified channels through organic growth initiatives and to explore financially accretive opportunities in adjacent markets, with a continued eye towards acquisitions. We view acquisition opportunities as a means to strengthen our existing capabilities and grow in new categories.”
Chart looks like it is nibbling away sellers at $6.00.
A good earnings webcast and a break out from $6.30 could be a launch paid for fast price increase.
AMNF is displaying a beautiful consolidation pattern. This is not distribution, it is greater strength for the future.
These multiyear consolidations often yield as minimums four baggers from the last consolidation ($5.30 to $6.30 - $22 ish)
Bob |
