Message #6 From:
NewsBot Date: December 11, 2006 10:00:00 AM
AMNF News Armanino Foods Declares Regular and Special Dividends Totaling 3.75 Cents Per Share
HAYWARD, Calif.--(BUSINESS WIRE)--The Board of Directors of Armanino Foods of Distinction (Pink
Sheets:AMNF) today declared the regular quarterly dividend of 1.25 cents
per share, together with a special dividend of an additional 2.5 cents
per share. Together, these payments amount to 3.75 cents per share and
will be payable on or about Jan. 26, 2007 to shareholders of record of
Jan. 5, 2007.
“Through the first nine months of this year,”
said William Armanino, the company’s President
and CEO, “our sales are up 15%, our net income
is up 65% and our earnings per share have more than doubled over the
same period last year. We are confident that we are headed for a record
full year in sales and earnings.
“We have more than $1.6 in cash and cash
equivalents on hand, and can meet the growing demands for our products
as well as meet our capital investment needs. In this perspective, we
wanted to share our progress with the shareholders who have shown so
much confidence in our company.”
Although these dividends will not actually be paid until next month, for
2006 AMNF declared 7.5 cents per share in regular and special dividends.
The company calculates that at recent share prices, this is a yield of
about 9% per annum per share.
Armanino is an international food company that manufactures and markets
frozen pesto, including Basil, Cilantro, Dried Tomato Garlic, Roasted
Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Organic
Basil and Organic Dried Tomato Garlic. Additionally Armanino produces
Mushroom, Alfredo, White sauces, filled pasta products, meatballs,
cooked poultry products, garlic spreads and Focaccia to the food
service, industrial, institutional industry.
Armanino Foods is listed under the stock symbol AMNF.PK.
