J & J Snack Foods (JJSF) Rewards Investors With 5% Dividend Hike
J & J Snack Foods Corp. JJSF announced a dividend increase, showcasing the company's commitment to delivering value to its shareholders. The board of directors approved a five-percent increase in the quarterly cash dividend, raising it from 70 cents per share to 73.5 cents.
Shareholders can expect to receive the enhanced dividend on Oct 10, 2023. To qualify for the dividend, individuals must be recorded as shareholders at the close of the business on Sep 18, 2023. This move reflects the company's strong financial performance and ability to generate sustainable cash flows.
J & J Snack Foods’ consistent ability to generate robust net income and maintain a favorable financial position underscores its confidence in providing dividends to shareholders. This practice serves to attract and retain investors who seek not only capital appreciation but also consistent income from their investments.
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The increase showcases the company's financial vitality, prudent management and foresight in strategically rewarding its stakeholders. As the company continues to navigate the dynamic business landscape, this move is likely to bolster investor confidence and augment the appeal of JJSF's stock to current and potential investors alike.
J & J Snack Foods' net cash provided by operating activities totaled $105.9 million, while cash and cash equivalents were $65.6 million at the end of the third quarter of fiscal 2023. The company returned $40.4 million via cash dividends for the nine months ended Jun 24, 2023.
Wrapping Up
J & J Snack Foods is positioning itself for growth and value creation through a range of initiatives. The recent announcement of a dividend increase exemplifies the company's commitment to rewarding shareholders.
Furthermore, a couple of weeks ago, J & J Snack Foods reported its fiscal third-quarter earnings of $1.92 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of 93 cents per share reported a year ago. Also, net sales grew 12% to $425.8 million in the third quarter of fiscal 2023, driven by Food Services sales growth of 11.9% and Frozen Beverages sales growth of 20%.
With a focus on dividend growth, cost management and brand strength, J & J Snack Foods is poised to deliver long-term value to its shareholders. Shares of this Zacks Rank #1 (Strong Buy) company have rallied 14.8% in the past one year compared with the industry’s decline of 4.5%.
Bet Your Bucks on These 3 Other Hot Stocks
Here we have highlighted three other top-ranked stocks, namely Post Holdings POST, MGP Ingredients, Inc. MGPI and MamaMancini's Holding's, Inc. MAMA.
Post Holdings is a consumer-packaged goods holding company, which is involved in the production of center-of-the-store, refrigerated, foodservice, food ingredient and convenient nutrition product categories. It currently sports a Zacks Rank #1. POST has a trailing four-quarter earnings surprise of 59.6%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Post Holdings’ current fiscal-year sales and earnings suggests growth of 13.5% and 184.5%, respectively, from the year-ago reported numbers.
MGP Ingredients produces and markets ingredients and distillery products to the packaged goods industry. It currently flaunts a Zacks Rank #1. The expected EPS growth rate for three to five years is 11%.
The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and earnings suggests growth of 5.8% and 8.5%, respectively, from the year-ago reported numbers. MGPI has a trailing four-quarter earnings surprise of 18%, on average.
MamaMancini's is involved in the manufacturing and distribution of food products. It currently sports a Zacks Rank #1. MAMA has a trailing four-quarter earnings surprise of 250%, on average.
The Zacks Consensus Estimate for MamaMancini's current fiscal-year sales and earnings suggests growth of 8.4% and 183.3%, respectively, from the year-ago reported numbers.
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J & J Snack Foods Corp. (JJSF) : Free Stock Analysis Report
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