Utz Brands, Inc. Declares Quarterly Cash Dividend
07 June 2024 - 6:05AM
Business Wire
Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading
U.S. manufacturer of branded salty snacks, today announced that its
Board of Directors has declared a regular quarterly cash dividend
of approximately $0.059 per share on the Company’s Class A Common
Stock. Payment is expected to be made by the Company on July 3,
2024, to stockholders of record at the close of business on June
17, 2024.
The cash dividend will be funded by cash distributions made by
Utz Brands Holdings, LLC (“Utz Brands Holdings”) to Utz and the
other holders of Utz Brands Holdings’ common units on a pro-rata
basis.
The cash dividend includes a regular quarterly cash dividend of
$0.059 per share and an additional cash dividend in the aggregate
amount of approximately $1.7 million, which is approximately
$0.0210 per share. This additional cash dividend will be funded
from a portion of the tax distribution paid or to be paid by Utz
Brands Holdings to Utz that is in excess of corporate taxes payable
by the Company.
Future declarations of quarterly or other dividends are subject
to the determination and discretion of Utz’s Board of Directors
based on its consideration of various factors, including the
Company’s results of operations, financial condition and other
factors that the Board may deem relevant. In future quarters, in
addition to potentially declaring and paying regular quarterly
dividends, Utz may continue to declare and pay additional cash
dividends to the holders of Utz Class A Common Stock out of all or
a portion of any excess tax distributions it receives from Utz
Brands Holdings.
About Utz Brands, Inc.
Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of
savory snacks through popular brands including Utz®, On The Border®
Chips & Dips, Golden Flake®, Zapp’s®, Boulder Canyon®,
Hawaiian® Brand, and TORTIYAHS!®, among others.
After a century with strong family heritage, Utz continues to
have a passion for exciting and delighting consumers with delicious
snack foods made from top-quality ingredients. Utz’s products are
distributed nationally through grocery, mass merchandisers, club,
convenience, drug, and other channels. Based in Hanover,
Pennsylvania, Utz has multiple manufacturing facilities located
across the U.S. to serve our growing customer base. For more
information, please visit www.utzsnacks.com or call
1‐800‐FOR‐SNAX.
Forward-Looking Statements
Certain statements made herein are not historical facts but are
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, as amended. The forward-looking statements generally are
accompanied by or include, without limitation, statements such as
“will”, “expect”, “intends”, “goal” or other similar words, phrases
or expressions. These statements are based on the current
expectations of the Company’s management and are not predictions of
actual performance. These statements are subject to a number of
risks and uncertainties and the Company’s business and actual
results may differ materially.
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version on businesswire.com: https://www.businesswire.com/news/home/20240606801798/en/
UTZ Brands, Inc.: Investor Kevin Powers
kpowers@utzsnacks.com
Media Kevin Brick kbrick@utzsnacks.com
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