8-K
National Beverage Corp (FIZZ)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 21, 2021
| National Beverage Corp. | |
|---|---|
| (Exact Name of Registrant as Specified in Its Charter) | |
| Delaware | |
| (State or Other Jurisdiction of Incorporation) | |
| 1-14170 | 59-2605822 |
| --- | --- |
| (Commission File Number) | (IRS Employer Identification No.) |
| 8100 SW Tenth Street, Suite 4000 | |
| Fort Lauderdale, Florida | 33324 |
| (Address of Principal Executive Offices) | (Zip Code) |
| (954) 581-0922 | |
| --- | |
| (Registrant’s Telephone Number, Including Area Code) | |
| (Former Name or Former Address, if Changed Since Last Report) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each Class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $.01 per share | FIZZ | The NASDAQ Global Select Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
On January 21, 2021, National Beverage Corp. announced its Board of Directors set Friday, January 29, 2021, as the payment date for its previously announced $6.00 per share cash dividend. This press release is furnished as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
| (d) Exhibit 99.1 | Press release dated January 21, 2021 announcing Friday, January 29, 2021, as the payment date for the Company’s previously announced $6.00 per share cash dividend. |
|---|---|
| Exhibit 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
| --- | --- |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
National Beverage Corp.
(Registrant)
| By: | /s/ George R. Bracken |
|---|
George R. Bracken
Executive Vice President – Finance
(Principal Financial Officer)
Date: January 22, 2021
EXHIBIT INDEX
| 99.1 | Press release dated January 21, 2021 announcing Friday, January 29, 2021, as the payment date for the Company’s previously announced $6.00 per share cash dividend. |
|---|---|
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
| --- | --- |
ex_221902.htm
Exhibit 99.1
 <br><br> <br>NASDAQ: FIZZ<br><br> <br>For Immediate Release<br><br> <br>Contact: Office of the Chairman, Grace Keene |
|---|
NATIONAL BEVERAGE CORP.
SETS PAYMENT DATE FOR RECORD DIVIDEND
FORT LAUDERDALE, FL, January 21, 2021 . . . National Beverage Corp. (NASDAQ:FIZZ) today announced that its Board of Directors set Friday, January 29, 2021, as the payment date for its previously announced $6.00 per share cash dividend.
“Calendar year 2020 is spoken about as “the year that never was” because our lives so drastically changed. The word ‘caring’ will also reflect a new and more profound definition – forever. This special dividend is a result of that word ‘caring’ redefined,” stated a company spokesperson.
“Since 2004, we will have paid total cash dividends of $20.56 per share, or nearly $1 billion. Despite distributing over 80% of our earnings to our shareholders, we believe our financial resources and robust cash flows will be more than adequate to support our leadership position in the fast-growing pure sparkling water category while also allowing us to take advantage of strategic opportunities that may arise. After payment of this record dividend, we anticipate having well in excess of $200 million in cash reserves and undrawn bank lines, and no long-term debt.
Our velocity in tracked channels continues to outperform the category led by the 2020 launch of the unique flavors of LimonCello, Pastèque and Hi-Biscus. We are finalizing exciting, innovative new products for the market and believe they will be in the hands of consumers before summer. Retailer acceptance is strong. Consumer passion for healthy beverages continues unabated. Momentum is clear. These are just a few of the ingredients for future optimism. Our second quarter ended October 31^st^ was our fourth consecutive quarter of year-over-year revenue and earnings growth and we anticipate our third quarter, which we plan to announce on or before March 11^th^, will reflect this positive continuity. The designator of momentum is usually reserved for the leader of a category, and in the case of sparkling water, we are pleased that it clearly has been given to brand LaCroix,” the company spokesperson concluded.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.
