BGS' Q4 results reflect the impacts of the Green Giant U.S. shelf-stable product line sale and lower unit volumes, partly offset by better net pricing and product mix.
PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend is payable on April 30, 2025 to stockholders of record as of March 31, 2025. At the closing market price of the common stock on February 24, 2025, the current dividend rate represents an annualized yield of 11.3%. This is the 82nd consecutive quarterly dividend declared by the Board of Direc.
PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) today explained the tax treatment for dividends paid in 2024 on the Company's common stock. Holders are urged to check their 2024 tax statements received from brokerage firms to ensure that the cash distribution information reported on such statements conforms to the information reported herein. Additional information concerning the tax treatment of dividends paid in 2024 is posted to the Investors section of B&G Foods' webs.
B&G Foods is navigating a tough operating environment due to macroeconomic headwinds, such as food inflation and shifts in consumer spending patterns.
B&G Foods' stock has plummeted over 80% since 2016 due to stagnant Adj. EBITDA and mounting debt, leading to brand divestitures. The company's FY24 financial forecast has been revised downward three times, with net sales and Adj. EBITDA declining significantly. Despite a high dividend yield of 10.4%, B&G's high debt and low margins make it a risky but high-yielding (for now) investment.
While B&G Foods faces near-term headwinds, it appears well-placed for the long term, given its portfolio optimization efforts and focus on higher-margin units.
SCC expands presence in CPG with brand building efforts for the Ortega® brand's wide portfolio of Mexican foods, including America's #1 taco sauce CHICAGO , Dec. 6, 2024 /PRNewswire/ -- Schafer Condon Carter (SCC), a Chicago-based independent creative agency, is proud to announce its new partnership with Ortega ®, a leading brand of Mexican food products including taco shells, taco kits, Mexican seasonings, peppers and the number-one-selling brand of taco sauce in the United States. This collaboration aims to elevate the Ortega ® brand's visibility and marks a significant step in SCC's expansion in the food and beverage sector, continuing SCC's legacy of crafting compelling campaigns for beloved brands.
BGS Q3 results are impacted by lower unit volumes and the Green Giant U.S. shelf-stable divestiture, partly offset by better net pricing and product mix.
B&G Foods (BGS) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.27 per share a year ago.
BGS' Q3 results are likely to reflect the impacts of softness in Foodservice category and slower recovery in net sales to retail customers.