Good Friday afternoon fellow Investolators,
Chart of AMNF:
stockcharts.com
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.”
96 quarters of consecutive quarterly dividends
Growing revenue
Expanding margins
Debt free
Regional food producer - california, recently has expanded footprint to Texas and Florida
CEO has successful track record of taking a regional butter producer to to national butter producer
Management does not have options as part of pay plan - no dilution EVER! They do hold a large positions and participate in the company's profits by holding shares and receiving dividends. LOVE THAT!
Pays a growing dividend of 15.42 cents annually and declared a special dividend of 10 cents this last year (one of eleven special dividends declared in the past).
This week upgraded to OTCQX pink sheets highest level - which I hope expands its recognition and higher volume in trading. It trades on appointment as it approaches the $6.00. Sellers who bought the last quarter's good record earnings and increase in dividend PLUS a 10 cent dividend look to have been weeded out. IMO
Long time periods of consolidation at several levels , the last ranging between $5.30 and $6.30.
stockcharts.com
Ted would say it is safe to buy upon a breakout to new highs. That would be $6.31.
Looks like a cup and handle formation is forming. So a breakout could be followed by a handle. Great ADD TO point if it happens.
400% minimum on a longer term basis - 22 to 24ish.
Full disclosure: i have owned AMNF for over 8 years. My current position is 105,000 shares at an average of $3.51 the declared dividend annually is .1452 (yielding on cost 4.14%). With the special dividend (first one I can recall) .2452 (yielding on cost 6.99%). Twice what a 5 year treasury pays and at a tax rate max of 20%.
One can have a lot of patience buying on breakouts and getting a continuously increasing dividend/yield.
Back When Ted published his quarterly Newsletter (early 1970's), he used M.C. Horsey's monthly chart of Earl Sheib on his newsletter as a logo (he kept it a secret for his readers to find). He predicted it will be going from the bottom to the upper right. This chart is just such a pretty chart of investolaters and insiders both accumulating shares. Getting a yield of 4% to 7% every year just shows how investing can pay off over the long term. Management is not selling off into the public. These shares are being accumulated and enjoyed by those who patiently reinvest in a well run growth company . It is proof that long term "Buy and Hold" still works. It is not exciting or volatile. It is boring compounding of wealth that allows one to patiently "HOLD WITH CONFIDENCE". Ted had a beautiful home on Redondo Beach California, and in his later years he became difficult to contact by the phone. He and his wife were almost always on vacation traveling the world. A suitable lifestyle for a young man who only received a 6th grade education but yet, was a very smart man with more common sense than education.
He will always be a great man to me!
His favorite thing to do was autographing the blank first page of a buyers book. It read:
"AS AN INVESTOLATER, YOU SHOULD SUCCEED" "Best wishes" Ted Warren
It also takes a long time - life time really, and two to three big winners with large positions.
He would always tell me: I'm watching the market to closely." I just blew it off, thinking, "He's already wealthy".
He was, and I think he also meant that we all should be buying stocks that allow us to sleep well and live well in a stress free fashion.
The phrase that I read the most often when I go back to Ted's book (which I often still do) is: "You must learn to ward off the pessimistic sentiment that is bound to rub off on you. When you have mastered this, you will have stepped out of a jungle of uncertainty. Self confidence will have arrived. A milestone in your life will be the time you have immunized yourself against the influences of the market's actions,and be able to think in terms that are opposite of the general public.
I'm always wondering if I've reached that milestone in my life.
One thing I do know: being paid a growing dividend along with all the company's executives helps me say YES I HAVE!
Bob |
