HANOVER, Pa.--(BUSINESS WIRE)--Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks and a small-cap value and growth Staples equity, today announced that its Board of Directors has approved an annual dividend increase from $0.236(1) to $0.244 per share. The increase is effective as of today, and the Utz Board of Directors has declared a regular quarterly cash dividend of approximately $0.061 per share on the Company’s Class A Common Stock. Payment is expected to be made by the Company on January 2, 2025, to stockholders of record at the close of business on December 16, 2024.
The cash dividend will be funded by cash distributions made by Utz Brands Holdings, LLC (“Utz Brands Holdings”) to Utz and the other holders of Utz Brands Holdings’ common units on a pro-rata basis.
Future declarations of quarterly or other dividends are subject to the determination and discretion of Utz’s Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition and other factors that the Board may deem relevant.
| (1) In March 2024, the Utz Board of Directors approved an annual dividend increase from $0.228 to $0.236 per share. |
About Utz Brands, Inc.
Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz ®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others.
After a century of strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, clubs, convenience stores, drug stores, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX.
Forward-Looking Statements
Certain statements made herein are not historical facts but are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as “will”, “expect”, “intends”, “goal” or other similar words, phrases or expressions. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties and the Company’s business and actual results may differ materially.
