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about • history • news • production • marketing
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For
Immediate Release
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For
More Information Contact:
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March 7, 2008
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Edmond
J. Pera, COO
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(510) 441-9300
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ARMANINO
FOODS OF DISTINCTION, INC.
Announces 100% Stock Dividend and
Regular Quarterly Cash Dividend
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Hayward, CA
(March 7, 2008) --Armanino Foods of Distinction, Inc. (Pink Sheets Symbol:
ARMF) announced today a 100% stock dividend to stockholders of record at
March 20, 2008. The stock dividend, essentially a 2-for-1 forward split,
will be effective on March 31, 2008.
Armanino
also announced that the board of directors has declared a regular quarterly
cash dividend of $.0075 per share to stockholders of record on April 4,
2008. The cash dividend will be
payable on or about May 2, 2008. The $.0075 cash dividend has been
calculated after taking into account the effect of the 2-for-1 stock
dividend which will be effective March 31, 2008.
William
J. Armanino, President and CEO of Armanino Foods of Distinction said, “Our
2007 record performance and our expectations of solid business performance
in 2008 continues to allow us to pay our normal cash dividends to our
stockholders. The 100% stock
dividend will assist our market makers and potential stockholders as it
will allow for a more liquid market for our shares.”
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, and Focaccia are also offered by Armanino Foods.
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This
press release contains forward-looking statements within the meaning of U.S.
securities laws, including statements regarding the Company’s goals and
growth prospects. These forward
looking statements are subject to certain risks and uncertainties that
could cause the actual results to differ materially from those projected,
including general economic conditions, fluctuations in customer demand,
competitive factors such as pricing pressures on existing products, and the
timing and market acceptance of new product introductions, the Company’s
ability to achieve manufacturing efficiencies necessary for profitable
sales at current pricing, and the risk factors listed from time-to-time in
the Company’s annual and quarterly SEC reports. The Company assumes no obligation to update
the information included in this press release.
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