BGF B&G Foods

B&G Foods, Inc. (NYSE: BGS, BGF), a manufacturer and distributor of high quality, shelf-stable foods, announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.17 per share of Class A common stock. The dividend will be payable on February 1, 2010 to shareholders of record as of December 31, 2009. At the closing market price of the Class A common stock on October 13, 2009, the current dividend represents an annualized yield of 8.6%.

“This is the twenty-first consecutive quarterly dividend declared by B&G Foods’ Board of Directors since our initial public offering in October 2004. By using the net proceeds of our recently completed public offering of 11.5 million shares of Class A common stock and cash on hand to redeem $90.0 million principal amount of our 12% senior subordinated notes due 2016 on November 2, 2009, we are able to continue paying dividends at the rate of $0.68 per share per annum without any reduction in our free cash flow despite the increased number of shares outstanding,” stated David L. Wenner, President and Chief Executive Officer of B&G Foods. “We continue to believe that our dividend policy makes the best use of the strong free cash flow generated by our portfolio of brands, providing our stockholders with an excellent return on their investment.”

About B&G Foods, Inc.

B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat, Emeril’s, Grandma’s Molasses, Joan of Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, Sa-són, Trappey’s, Underwood, Vermont Maid and Wright’s.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this press release include without limitation statements related to the Company’s dividend policy and the Company’s expectations regarding the continued payment of dividends at the current intended dividend rate. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods’ filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for fiscal 2008 filed on March 5, 2009. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

B&G Foods (NYSE:BGF)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

B&G Foods (NYSE:BGF)
Historical Stock Chart
Von Dez 2023 bis Dez 2024