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Microcap & Penny Stocks : AMNF (Armanino Foods of Distinction) -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (76)	6/19/2020 12:51:43 PM
From: robert b furman	1 Recommendation Recommended By E_K_S Respond to of 266

Hi E_K_S, I just more and more like this company. Restaurants are forced shut down, kills the "commercial orders for their products. They cut the recently increased dividend fom 11 cents to 7 cents and take the savings to pay off an equipment loan EARLY ( as scheduled to be paid off in 2020). Cut costs and vow to increase the dividend when sales get back to previous levels. That's smart and conservative. To me this is why when you buy a stock you look at their assets and their debt, its a balance sheet thing! They are conservative and very stockholder friendly (no dilution of ownership with options to management). I'm hopeful the new CEO will get AMNF's products on a national footprint, like he did previously for a brand of butter. These people are solid and I love the confidence they show, in light of what is pre-announced to be a loser quarter. They say the orders are growing and getting better. I'm thinking if/when they announce a loser quarter,it may give us a dip in price to ADD TO this neat and fine company. Covid 19 was not their fault and they will quickly recover, with an even stronger balance sheet. Time to add to for me. Armanino Foods of Distinction, Inc. Declares a Regular Quarterly Dividend Of $0.0175Press Release \| 06/19/2020 Armanino Foods of Distinction, Inc. (OTC Pink: AMNF) today announced that its board of directors have declared a quarterly cash dividend of $0.0175 per share. This level is a decrease of approximately 36% from the prior regular quarterly dividend amount of $0.0275. The dividend will be payable to shareholders of record on July 1, 2020 and will be disbursed on or about July 24, 2020. This is the Company’s 80th consecutive quarterly dividend. In addition, the Company has had ten special dividends. Douglas R. Nichols, Chairman of the board stated, “As previously disclosed, we expect to report a loss for our second quarter ending June 30, 2020; however, thanks to the strength of our balance sheet, Armanino Foods will continue our proud tradition of rewarding our shareholders with a quarterly dividend payment despite the adverse effect that the COVID 19 pandemic has had on our business in Q2. Because we are seeing sales continue to improve and have implemented many cost savings measures since the beginning of the pandemic, we are comfortable with paying a reduced dividend, and are confident of our financial position even if a second wave of the virus emerges. The $320,000 savings from the dividend reduction will be utilized to payoff an equipment loan with a balance that closely approximates the dividend savings. That loan was otherwise scheduled to mature at the end of 2022. This strategy, coupled with our cost reductions across all functions, enables us to reinvest in our core business and strategic growth initiatives. Due to unprecedented uncertainty regarding the COVID 19 pandemic, we remain guarded on the outlook of our financial performance for the remainder of this year. It is the board’s intention to reinstate the dividend to $0.0275 per share as soon as business conditions return to historic levels.”