THOMASVILLE, Ga., Nov. 15,
2024 /PRNewswire/ -- Flowers Foods, Inc.
(NYSE: FLO) today announced that its board of directors has
declared a quarterly dividend of $0.24 per share, an increase of 4.3% over the
same quarter last year. This is the 89th consecutive quarterly
dividend paid by the company and is payable on December 13, 2024, to shareholders of record on
November 29, 2024.
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 2023 sales of $5.1
billion. Flowers operates bakeries across the country that
produce a wide range of bakery products. Among the company's top
brands are Nature's Own, Dave's Killer Bread,
Wonder, Canyon Bakehouse, and Tastykake. Learn more
at www.flowersfoods.com.
FLO-CORP FLO-IR FLO-DIV
Forward-Looking Statements
Statements contained in this presentation and certain other
written or oral statements made from time to time by Flowers Foods,
Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or
"our") and its representatives that are not historical facts are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements relate to
current expectations regarding our business and our future
financial condition and results of operations and are often
identified by the use of words and phrases such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "should," "will," "would," "is
likely to," "is expected to" or "will continue," or the negative of
these terms or other comparable terminology. These forward-looking
statements are based upon assumptions we believe are reasonable.
Forward-looking statements are based on current information and are
subject to risks and uncertainties that could cause our actual
results to differ materially from those projected. Certain factors
that may cause actual results, performance, liquidity, and
achievements to differ materially from those projected are
discussed in our Annual Report on Form 10-K for the year ended
December 30, 2023 (the "Form 10-K")
and Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission ("SEC") and may include, but are not limited
to, (a) unexpected changes in any of the following: (1) general
economic and business conditions; (2) the competitive setting in
which we operate, including advertising or promotional strategies
by us or our competitors, as well as changes in consumer demand;
(3) interest rates and other terms available to us on our
borrowings; (4) supply chain conditions and any related impact on
energy and raw materials costs and availability and hedging
counter-party risks; (5) relationships with or increased costs
related to our employees and third-party service providers; (6)
laws and regulations (including environmental and health-related
issues); and (7) accounting standards or tax rates in the markets
in which we operate, (b) the loss or financial instability of any
significant customer(s), including as a result of product recalls
or safety concerns related to our products, (c) changes in consumer
behavior, trends and preferences, including health and whole grain
trends, and the movement toward less expensive store branded
products, (d) the level of success we achieve in developing and
introducing new products and entering new markets, (e) our ability
to implement new technology and customer requirements as required,
(f) our ability to operate existing, and any new, manufacturing
lines according to schedule, (g) our ability to implement and
achieve our corporate responsibility goals in accordance with
regulatory requirements and expectations of stakeholders,
suppliers, and customers; (h) our ability to execute our business
strategies which may involve, among other things, (1) the ability
to realize the intended benefits of completed, planned or
contemplated acquisitions, dispositions or joint ventures, (2) the
deployment of new systems (e.g., our enterprise resource planning
("ERP") system), distribution channels and technology, and (3) an
enhanced organizational structure (e.g., our sales and supply chain
reorganization), (i) consolidation within the baking industry and
related industries, (j) changes in pricing, customer and consumer
reaction to pricing actions (including decreased volumes), and the
pricing environment among competitors within the industry, (k) our
ability to adjust pricing to offset, or partially offset,
inflationary pressure on the cost of our products, including
ingredient and packaging costs; (l) disruptions in our
direct-store-delivery distribution model, including litigation or
an adverse ruling by a court or regulatory or governmental body
that could affect the independent contractor classifications of the
independent distributor partners, and changes to our
direct-store-delivery distribution model in California, (m)
increasing legal complexity and legal proceedings that we are or
may become subject to, (n) labor shortages and turnover or
increases in employee and employee-related costs, (o) the credit,
business, and legal risks associated with independent distributor
partners and customers, which operate in the highly competitive
retail food and foodservice industries, (p) any business
disruptions due to political instability, pandemics, armed
hostilities (including the ongoing conflict between Russia and
Ukraine and the conflict in the Middle East), incidents of
terrorism, natural disasters, labor strikes or work stoppages,
technological breakdowns, product contamination, product recalls or
safety concerns related to our products, or the responses to or
repercussions from any of these or similar events or conditions and
our ability to insure against such events, (q) the failure of our
information technology systems to perform adequately, including any
interruptions, intrusions, cyber-attacks or security breaches of
such systems or risks associated with the implementation of the
upgrade of our ERP system; and (r) the potential impact of climate
change on the company, including physical and transition risks,
availability or restriction of resources, higher regulatory and
compliance costs, reputational risks, and availability of capital
on attractive terms. The foregoing list of important factors does
not include all such factors, nor does it necessarily present them
in order of importance. In addition, you should consult other
disclosures made by the company (such as in our other filings with
the SEC or in company press releases) for other factors that may
cause actual results to differ materially from those projected by
the company. Refer to Part I, Item 1A., Risk Factors, of the Form
10-K, Part II, Item 1A., Risk Factors, of the
Form 10-Q for the quarter ended October 5, 2024 and
subsequent filings with the SEC for additional information
regarding factors that could affect the company's results of
operations, financial condition and liquidity. We caution you not
to place undue reliance on forward-looking statements, as they
speak only as of the date made and are inherently uncertain. The
company undertakes no obligation to publicly revise or update such
statements, except as required by law. You are advised, however, to
consult any further public disclosures by the company (such as in
our filings with the SEC or in company press releases) on related
subjects.
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SOURCE Flowers Foods, Inc.
