Flowers Foods Declares Dividend
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THOMASVILLE, Ga., Feb. 19, 2021 /PRNewswire/ Flowers Foods, Inc. (NYSE: FLO), producer of
Nature s Own, Dave s Killer Bread, Wonder, Canyon Bakehouse, Tastykake, and other bakery foods, today announced that its board of directors has declared a quarterly dividend of $0.20 per share, an increase of 5.3% over the same quarter last year. This is the 74th consecutive quarterly dividend paid by the company and is payable on March 19, 2021 to shareholders of record on March 5, 2021.
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of packaged bakery foods in the United States with 2020 sales of $4.4 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company s top brands are
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Operator
Ladies and gentlemen, thank you for standing by. And welcome to the Flowers Foods Fourth Quarter and Full Year 2020 Results Conference Call. [Operator Instructions] After the speakers presentation, there will be a question-and-answer session. [Operator Instructions]
Please be advised that today s conference is being recorded. [Operator Instructions]
I would now like to hand the conference over to your speaker today, J.T. Rick, SVP of Finance and Investor Relations. Thank you. Please go ahead, sir.
J.T. Rieck
Senior Vice President of Finance and Investor Relations
Thank you, operator and good morning. I hope everyone had the opportunity to review our earnings release and presentation and also listened to our prepared remarks, all of which are available on our Investor Relations website. Following the conclusion of today s Q&A session, we will also post an audio replay of this call.
Company Profile
Flowers Foods Inc is an American company producing bakery food for retail and foodservice across the United States. The product portfolio includes fresh breads, buns, rolls, snack cakes, and tortillas. The company distributes to supermarkets, convenience stores, and restaurants. The operating segments are divided into direct store delivery, which provides fresh breads, tortillas, cakes, and rolls; and the warehouse segment, which distributes fresh snack cakes and frozen breads and rolls. The key brands are Nature s Own, Whitewheat, Cobblestone Bread, Wonder, and Tastykake.
Nature s Own,
Dave s Killer Bread,
Wonder, Canyon Bakehouse, Tastykake, and other bakery foods, today reported financial results for the company s 53-week fiscal 2020 and 13-week fiscal fourth quarter ended January 2, 2021.
Fiscal 2020 Summary:
Sales increased 6.4% to $4.388 billion. The additional week contributed 1.8%.
Net income decreased 7.4% to $152.3 million. Adjusted net income increased 36.1% to $278.0 million.
Adjusted EBITDA(1) increased 23.4% to $521.7 million, representing 11.9% of sales, a 160-basis point increase.
Diluted EPS decreased $0.06 to $0.72. Adjusted diluted EPS(1) increased $0.35 to $1.31. The additional week contributed $0.02.
Fourth Quarter Summary:
Sales increased 11.5% to $1.023 billion. The additional week contributed 8.2%.
Net income increased $53.6 million to $55.8 million. Adjusted net income increased 55.3% to $59.1 million.
Adjusted EBITDA(1) increased 34.3% to $113.5 million, representing 11.1% of sales, a 190-basis point inc
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