The international food firm Armanino Foods of Distinction Inc (OTCMKTS:AMNF) saw its stock remain largely sedate and within a range on Monday, but at the same time, investors need to note that the company is in the news. While the developments from yesterday have to be looked into in order to make your minds up about the stock, it is also important to perhaps take a look into the company’s operations.
On Monday, AMNF stock ended flat at $3.50 with more than 1.8K shares, compared to a volume of 11.6K shares. The stock moved within a range of $3.4900 – 3.5500 after opening trade at $3.50.
About The Company
That way, investors are going to have a better idea about Armanino Foods. The company is engaged in the manufacturing and marketing of frozen Italian specialty foods. It is involved in distributing its products to the industrial, retail, and food service markets. The company not only manufactures the Basil Pesto but is also known for manufacturing a wide range of Italian sauces and a considerable line of organic products.
Armanino Foods of Distinction, Inc. Announces Regular Quarterly Dividend
Yesterday, the company came into the news cycle following a fairly significant announcement and it may be a good time for investors to take a look into it. Armanino Foods announced yesterday that its Board of Directors had announced a regular quarterly dividend to the tune of as much as $0.03 a share.
More often than not, the announcement of a cash dividend leads to a move in the company’s stock but no such thing happened with the Armanino Foods stock. It is going to be fairly interesting to see if the Armanino Foods stock can actually make an upward move in the course of the coming days or not.
All shareholders of record as of July 8, 2022, are going to be entitled to the cash dividend, which is going to be distributed tentatively on July 30, 2022. In this regard, it is perhaps interesting to note that the quarterly dividend is the 88th straight quarter in which Armanino Foods paid out a cash dividend.
Other than that, Armanino Foods has also provided its shareholders with as many as 10 special dividends during the period. With the company’s recent performance and anticipation of strong performance in terms of sales as well as profits in the near term, Armanino Foods remains confident about its financial situation, as per Douglas R Nichols, the chairman of the board.
Douglas R. Nichols, Chairman of the Board stated, “Due to our recent past performance and our anticipated pace of sales and profits we remain confident about our Company’s financial position. As a result, we are pleased to declare a quarterly dividend at the previous quarterly rate representing the highest dividend payout in our company’s history. On a separate note, we are sorry to report that Jim Gillis has decided to step down from our Board to pursue transcontinental opportunities. We appreciate his contributions and wish him well in his many endeavors.”
AMNF stock is trading above the 20-Day and 50-Day Moving averages of $3.48 and $3.45 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.38.