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Armanino Foods Ups Regular Quarterly Dividend,
Declares Special Dividend Totaling 2.75 Cents Per Share
HAYWARD, CA (December 6, 2007) Armanino Foods of Distinction, Inc. (Pink
Sheets Symbol: AMNF) The Board of Directors of Armanino Foods of Distinction today declared the Company’s regular quarterly dividend, increased its amount from $0.0125 per share to $0.0150 per share and declared a special dividend of an additional $0.0125 per share, for a total dividend amount of $0.0275 per share. These dividends will be payable on or about February 1, 2008 to shareholders of record of January 4, 2008.
“Through the first nine months of this year,” said William Armanino, the company’s President and CEO, “our sales are up 12% and our pre-tax income is up 42% over the same period last year. We are confident that we are headed for a record year in sales and earnings. Accordingly, the board has expressed confidence in our future by raising our regular quarterly dividend by 20%. We decided not to match the amount of last year’s special dividend so that we could invest our working capital into our growing business. We believe this decision will assist us in driving the long term growth of our Company, while balancing the desire to reward our shareholders for their loyalty.”
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pesto sauces and filled pastas to the food service, retail, and industrial markets. In addition to a classic Basil pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest
Chipotle, Artichoke and Roasted Garlic. Armanino’s Organic line includes the classic Basil Pesto as well as Dried Tomato & Garlic pesto. Frozen pastas, sauces, spreads, meatballs, frozen meat and poultry products, and Focaccia are also offered by Armanino Foods.
For further information please contact:
Edmond J. Pera
COO
(510) 441-9300
Armanino is an international food company that manufactures and markets frozen basil pesto and numerous other pestos and sauces such as Cilantro, Dried Tomato Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Organic Basil, Organic Dried Tomato Garlic pesto, Mushroom, Alfredo sauces, filled pasta products, meatballs, cooked poultry products, garlic spreads and Focaccia to the food service, industrial, institutional industry.
For further information please contact:
Edmond J. Pera, COO
1-800-255-5855
This
press release contains forward-looking statements within the meaning of
U.S.
securities laws. These forward looking statements are subject to certain risks
and uncertainties that could cause the actual results to differ materially from
those projected. The Company assumes no obligation to update the information
included in this press release.
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