ELGIN, Ill. - John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS), the Illinois-based nut and dried fruit products company, announced a special cash dividend of $1.00 per share on all issued and outstanding shares of Common Stock and Class A Common Stock. The dividend is set to distribute approximately $11.7 million to shareholders.
The payment date for the special dividend is scheduled for June 20, 2024, with stockholders of record by the close of business on May 31, 2024, eligible for the dividend.
Jeffrey T. Sanfilippo, Chairman and Chief Executive Officer of the company, expressed satisfaction with the announcement, attributing the ability to declare the special dividend to the company's strong financial performance over recent fiscal quarters.
He emphasized that the dividend is in line with the company's objective of creating long-term shareholder value and acknowledged the efforts of the company's employees as integral to this achievement.
John B. Sanfilippo & Son, Inc. is known for processing, packaging, marketing, and distributing a variety of nut and dried fruit products, snack bars, and dried cheese snacks. Their products are sold under several brand names, including Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts, and Just the Cheese, as well as through private labels.
The company's press release also contained forward-looking statements, which are based on current expectations and involve certain risks and uncertainties that could cause actual results to differ materially from those anticipated.
Investors and stakeholders are advised that the information regarding the special dividend is based on a press release statement from John B. Sanfilippo & Son, Inc.
InvestingPro Insights
John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) has recently caught the attention of shareholders with the announcement of a special dividend, reflecting the company's solid financial standing. According to InvestingPro data, JBSS has a market capitalization of approximately $1.17 billion and is trading with a P/E ratio of 17.38. The company's commitment to shareholder value is further underscored by its robust gross profit margin of 21.99% over the last twelve months as of Q2 2024.
From an operational standpoint, JBSS has demonstrated financial prudence, with InvestingPro Tips indicating that the company's cash flows can sufficiently cover interest payments and that its liquid assets exceed short-term obligations. These factors contribute to the company's ability to distribute dividends to shareholders while maintaining financial stability.
Investors looking for additional insights can find them on InvestingPro, where there are six more InvestingPro Tips available for JBSS, including analysis on profitability and debt management. For those interested in diving deeper, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Moreover, the InvestingPro Fair Value estimate for JBSS stands at $109.84, suggesting a potential upside from the previous close price of $99.7. This valuation, coupled with a dividend yield of 4.51% as of the latest data, positions JBSS as a potentially attractive option for income-focused investors. The next earnings date is slated for May 1, 2024, which will provide further clarity on the company's financial trajectory.
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