Flowers Foods: Announces Three-for-Two Stock Split

Thomasville / GA. (ff) In the periphery of the Flowers Foods Inc. annual shareholders meeting the company´s board of directors declared a three-for-two split of the company´s stock by means of a 50 percent stock dividend and also increased the annual cash dividend by 0,035 USD. This equates to a 5,5 percent increase over the previous dividend rate. Both the stock split and the dividend are payable on June 19, 2013, to shareholders of record on June 05, 2013. Following the split, Flowers shareholders will own three shares for every two shares they held on the record date and the quarterly dividend rate will be 0,1125 USD per share, or 0,45 USD per share on an annualized basis. The board is confident in the company´s future performance, according to George E. Deese, Executive Chairman. «The board believes Flowers Foods is in an excellent position to reward our shareholders with an increased dividend, allowing our investors to continue participating in the company´s success over the long term», he said. «In addition, the stock split will increase the liquidity of our stock and attract new shareholders». Allen L. Shiver, president and newly elected CEO, cited Flowers´ operational and marketplace performance as one of the reasons the leadership team has confidence in the company´s future. «Our long-term strategy of investing in our bakeries, brands, products, and our team has created competitive advantages that are helping us deliver record results», he said.

Flowers Foods: Announces Three-for-Two Stock Split

Thomasville / GA. (ff) Prior to the Flowers Foods Inc. annual shareholders meeting, the company´s board of directors declared a three-for-two split of the company´s stock by means of a 50 percent stock dividend and also increased the annual cash dividend by 0,10 USD. This equates to a 12,5 percent increase over the previous dividend rate. Both the stock split and the dividend are payable on June 24, 2011, to shareholders of record on June 10, 2011.

Following the split, Flowers shareholders will own three shares for every two shares they held on the record date and their quarterly dividend rate will be 0,15 USD per share or 0,60 USD per share on an annualized basis.

George E. Deese, Flowers Foods´ chairman of the board and CEO, said the board is confident in the company´s future performance. «The board believes Flowers Foods is in an excellent position to reward our shareholders with an increased dividend, allowing our investors to continue participating in the company´s success over the long term», he said. «In addition, the stock split will increase the liquidity of our stock and attract new shareholders».

Deese said the company is confident in the future and remains committed to its strategy of investing cash to build value for shareholders. «We anticipate delivering good results in 2011 and in the years to come, even as we manage through near term volatility in commodity markets and continued pressure from a weak economy. Our business continues to generate substantial cash flow that funds dividends to our shareholders, capital improvements, and share repurchases, as well as growth through market expansion and strategic acquisitions. Our balance sheet is strong and our operating strengths are evident. This week, we announced a new 500 million USD credit facility that substantially improves our capital structure. This provides a solid debt capital base and source of liquidity as we continue to execute our new five-year growth plan».

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