Message #9 From:
NewsBot Date: December 8, 2007 10:10:23 AM
Armanino Foods Ups Regular Quarterly Dividend and Declares Special Dividend Totaling 2.75 Cents Per Share
The Board of Directors of Armanino Foods of Distinction (Pink
Sheets:AMNF) today declared the Company’s
regular quarterly dividend, increased its amount from $0.0125 per share
to $0.0150 per share and declared a special dividend of an additional
$0.0125 per share, for a total dividend amount of $0.0275 per share.
These dividends will be payable on or about February 1, 2008 to
shareholders of record of January 4, 2008.
“Through the first nine months of this year,”
said William Armanino, the company’s President
and CEO, “our sales are up 12% and our pre-tax
income is up 42% over the same period last year. We are confident that
we are headed for a record year in sales and earnings. Accordingly, the
board has expressed confidence in our future by raising our regular
quarterly dividend by 20%. We decided not to match the amount of last
year’s special dividend so that we could
invest our working capital into our growing business. We believe this
decision will assist us in driving the long term growth of our Company,
while balancing the desire to reward our shareholders for their loyalty.”
Armanino Foods of Distinction, Inc. is an international food company
that manufactures and markets frozen Italian specialty food items such
as pesto sauces and filled pastas to the food service, retail, and
industrial markets. In addition to a classic Basil pesto Armanino offers
other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell
Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino’s
Organic line includes the classic Basil Pesto as well as Dried Tomato &
Garlic pesto. Frozen pastas, sauces, spreads, meatballs, frozen meat and
poultry products, and Focaccia are also offered by Armanino Foods.
Armanino Foods of Distinction, Inc. Edmond J. Pera, 510-441-9300 COO
