June 17, 2024

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Armanino Foods of Distinction, Inc. Declares a Frequent Quarterly Dividend of $.0175 For each Share

HAYWARD, Calif.–(Business WIRE)–Armanino Foods of Difference, Inc. (OTC Pink: AMNF) right now declared that its board of directors has declared a quarterly dollars dividend of $.0175 for every share. The dividend will be payable to shareholders of report on January 4, 2021 and will be disbursed on or about January 25, 2021. This is the Company’s 82nd consecutive quarterly dividend. In addition, the Organization has experienced ten exclusive dividends.

Douglas R. Nichols, Chairman of the board said, “Armanino Foods is happy that we are ready to go on our proud tradition of gratifying our shareholders with a further quarterly dividend. Our equilibrium sheet proceeds to continue to be sturdy. We are continue to self-assured that we are effectively positioned fiscally to carry on to weather the pandemic into the next year, and strategically spend in diversified channels to capitalize on development trends. Rather than resume having to pay our dividend at our previous charge of $.0275 per share, we will pay back down our line of credit history with the $320,000 in cost savings from the dividend reduction just as we have finished in the previous two quarters.”

Tim Anderson, President and CEO commented, “While we keep on to situation the Business for recovery pushed by the transformative effect of COVID-19, important development has been manufactured to establish a stronger foundation and organizational composition that will greater placement our company to withstand macro-level pressures, and in the end established the corporation up for growth. Even so, we stay guarded on the close to long term outlook as the dynamic mother nature of the pandemic limitations our capacity to estimate the whole money effect with fair precision. The latest resurgence of COVID-19 instances illustrates this issue. No matter, we are assured that with our monetary sources, the strength of our brand name, and demonstrated keep track of history of administration excellence, we will be in a position to reach our extensive-time period eyesight for the Business in spite of the current financial surroundings.”

Armanino Foodstuff of Distinction, Inc. is an global foods company that manufactures and markets frozen Italian specialty food stuff merchandise this kind of as pestos, sauces and crammed pastas to the foodservice, retail, and industrial marketplaces. In addition to a classic Basil Pesto Armanino presents other flavors these as Cilantro, Dried Tomato & Garlic, Roasted Pink Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light-weight Basil Pesto, Chimichurri, Harissa, Bolognese, Alfredo sauce, Creamy Garlic, and Romesco. Armanino’s natural and organic line involves basic Basil Pesto. Armanino Food items also gives cheese shakers, frozen pastas, and meatballs.

The most effective supply of facts on the enterprise is the OTC Markets web site (http://www.otcmarkets.com/stock/AMNF/enterprise-facts).