Armanino Foods of Distinction, Inc. (NASDAQ Small Cap Symbol: ARMF) announced Friday (1 June) a 100% stock dividend to shareholders of record at June 11, 2001. The stock dividend, essentially a 2-for-1 forward split, will be effective on June 25, 2001.
Armanino also announced that the board of directors has declared a regular quarterly cash dividend of 2 1/2 cents per share to stockholders of record on July 6, 2001. The cash dividend will be payable on or about August 3, 2001. The 2 1/2 cent cash dividend has been calculated after taking into account the effect of the 2-for-1 stock dividend which will be effective June 25, 2001.
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William J. Armanino, President and CEO of Armanino Foods of Distinction said, “Our continued profitability continues to allow us to pay our normal cash dividends to our shareholders without hampering our expansion plans.”
Armanino is an international food company that manufactures and markets frozen pestos, filled pasta products, sauced entrees, meatballs and focaccia to the retail, food service, club stores, institutional, and industrial food industry segments.
This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements regarding the Company’s goals and growth prospects. These forward looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including general economic conditions, fluctuations in customer demand, competitive factors such as pricing pressures on existing products, and the timing and market acceptance of new product introductions, the Company’s ability to achieve manufacturing efficiencies necessary for profitable sales at current pricing, and the risk factors listed from time-to-time in the Company’s annual and quarterly SEC reports. The Company assumes no obligation to update the information included in this press release.
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