FORT LAUDERDALE – National Beverage Corp. (NASDAQ: NASDAQ:FIZZ) has declared a special cash dividend of $3.25 per share, the company's twelfth such payout in two decades. Shareholders on record as of June 24, 2024, will be eligible for the dividend, with the stock trading ex-dividend on the same date. The payment is scheduled to be made by July 24, 2024.
The announcement comes as National Beverage, known for its popular LaCroix brand, continues to perform strongly in the market. The company highlighted its achievement of eleven straight quarters of record sales, alongside growing gross profits and operating income. This financial performance has been underpinned by what the company describes as its innovative products and strong balance sheet.
National Beverage also indicated that it will release its fiscal year results by June 26, 2024. The results will cover the period ending April 27, 2024, which is expected to reflect the company's ongoing momentum in sales and profitability.
In addition to its financial success, National Beverage emphasized its commitment to innovation within the beverage industry. The company recently introduced a new LaCroix flavor, Mojito, expanding its already diverse lineup. The brand's focus on flavor innovation and packaging has been a key driver in maintaining its position in the sparkling water market.
InvestingPro Insights
National Beverage Corp. (NASDAQ: FIZZ) has demonstrated a robust financial standing, as evidenced by its ability to declare a special cash dividend. The company's strategic financial management is highlighted by its substantial cash reserves, with InvestingPro data showing that the company holds more cash than debt on its balance sheet. This financial prudence is a key factor in National Beverage's ability to consistently reward shareholders, despite not offering regular dividends.
InvestingPro data also reflects the company's strong market position, with a market capitalization of $4.34 billion. While the company is trading at a high P/E ratio of 25.51, indicating a premium valuation relative to near-term earnings growth, it's worth noting that analysts predict National Beverage will remain profitable in the upcoming year. This profitability is supported by a solid track record over the last twelve months, as well as impressive returns over the last decade and five years.
For those interested in a deeper dive into National Beverage's financial metrics and future prospects, there are additional InvestingPro Tips available. These can offer valuable insights into aspects such as the company's liquid assets, which currently exceed its short-term obligations, providing a cushion against market volatility. With a total of 9 additional tips available on InvestingPro, investors can gain a comprehensive understanding of the company's financial health and investment potential. Take advantage of the exclusive offer for readers by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/FIZZ.
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