MGP Ingredients Declares $0.12 Quarterly Dividend
February 26 2020 - 7:25AM
MGP Ingredients, Inc. (Nasdaq:MGPI), a
leading supplier of premium distilled spirits and specialty wheat
proteins and starches, today announced that its board of directors
has declared a quarterly dividend of $0.12 cents per share of
common stock.
The dividend is payable on March 27, 2020 to
stockholders of record as of March 13, 2020.
About MGP Ingredients,
Inc.Founded in 1941, MGP is a leading supplier of premium
distilled spirits and specialty wheat proteins and starches.
Distilled spirits include bourbon and rye whiskeys, gins and
vodkas, which are expertly crafted through a combination of art and
science and backed by a long history of experience. The Company's
proteins and starches are created in the same manner and provide a
host of functional, nutritional and sensory benefits for a wide
range of food products. MGP additionally is a top producer of high
quality industrial alcohol for use in both food and non-food
applications. The Company is headquartered in Atchison, Kansas,
where distilled alcohol products and food ingredients are produced.
Premium spirits are also distilled and matured at the Company's
facility in Lawrenceburg, Indiana. For more information, visit
mgpingredients.com.
Cautionary Note Regarding
Forward-Looking StatementsThis news release contains
forward-looking statements as well as historical information. All
statements, other than statements of historical facts, included in
this news release regarding the prospects of our industry and our
prospects, plans, financial position, business strategy, guidance
on growth in operating income, net sales, gross margin, and future
effective tax rate may constitute forward-looking statements. In
addition, forward-looking statements are usually identified by or
are associated with such words as "intend," "plan," "believe,"
"estimate," "expect," "anticipate," "hopeful," "should," "may,"
"will," "could," "encouraged," "opportunities," "potential" and/or
the negatives or variations of these terms or similar terminology.
They reflect management's current beliefs and estimates of future
economic circumstances, industry conditions, Company performance,
and Company financial results and are not guarantees of future
performance. All such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those contemplated by the relevant
forward-looking statement. Important factors that could cause
actual results to differ materially from our expectations include,
among others: (i) disruptions in operations at our Atchison
facility or our Indiana facility, (ii) the availability and cost of
grain and flour, and fluctuations in energy costs, (iii) the
effectiveness of our grain purchasing program to mitigate our
exposure to commodity price fluctuations, (iv) the effectiveness or
execution of our strategic plan, (v) potential adverse effects to
operations and our system of internal controls related to the loss
of key management personnel, (vi) the competitive environment and
related market conditions, (vii) the ability to effectively pass
raw material price increases on to customers, (viii) our ability to
maintain compliance with all applicable loan agreement covenants,
(ix) our ability to realize operating efficiencies, (x) actions of
governments, and (xi) consumer tastes and preferences. For further
information on these and other risks and uncertainties that may
affect our business, including risks specific to our Distillery
Products and Ingredient Solutions segments, see Item 1A. Risk
Factors of our Annual Report on Form 10-K for the year ended
December 31, 2018.
For More InformationInvestors &
Analysts:Mike Houston646-475-2998 or
investor.relations@mgpingredients.com
Media:Greg Manis913-360-5440 or
greg.manis@mgpingredients.com
MGP Ingredients (NASDAQ:MGPI)
Historical Stock Chart
From Mar 2024 to Apr 2024
MGP Ingredients (NASDAQ:MGPI)
Historical Stock Chart
From Apr 2023 to Apr 2024