Bridgford Foods Corp, a producer of frozen bread dough, microwaveable sandwiches, processed meats, dry sausages and other convenience food products, has announced a reduced quarterly cash dividend of US$0.05 per share.
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The Californian firm explained that the reduction from the previous rate of US$0.07 per share relates to reduced earnings in the current fiscal year. Bridgford previously announced basic earnings per share of US$0.29 for the H1 2002, compared with US$0.40 earned in the same period a year ago.
The dividend is payable 4 October 2002, to shareholders of record on 6 September 2002. Bridgford currently has 10.4 million shares outstanding.
