FELTHAM, England, Jan. 30,
2024 /PRNewswire/ -- Nomad Foods Limited
(NYSE: NOMD), a leading frozen food company, today announced
that its Board of Directors has declared an initial quarterly cash
dividend of $0.15 per share on the
Company's issued and outstanding ordinary shares. The initial
quarterly dividend will be payable on February 26, 2024 to shareholders of record as of
the close of business on February 9,
2024.
"The initiation of a quarterly dividend marks a notable
milestone for Nomad Foods, further fortifying our commitment to
provide consistent, compelling value to our shareholders," said
Stéfan Descheemaeker, Nomad Foods' chief executive officer. "This
action is a testament to the quality and resilience of our business
and our confidence in our ability to generate significant cash
flows and sustainable, long-term growth."
Noam Gottesman, Nomad Foods'
Co-Chairman and Founder, commented, "We are pleased to announce the
initiation of the quarterly dividend to enhance Nomad Foods'
capital allocation strategy. Through the adoption of a quarterly
dividend and our new $500 million
share repurchase program, the Board continues to execute a balanced
capital deployment strategy intended to maximize shareholder
returns. Our business has consistently generated strong cash flows
and we remain committed to maintaining financial flexibility to
continue investing behind organic and inorganic growth."
About Nomad Foods
Nomad Foods (NYSE: NOMD) is Europe's leading frozen food company. The
Company's portfolio of iconic brands, which includes Birds Eye,
Findus, iglo, Ledo and Frikom, have been a part of consumers' meals
for generations, standing for great tasting food that is
convenient, high quality and nutritious. Nomad Foods is
headquartered in the United
Kingdom. Additional information may be found at
www.nomadfoods.com/investors/.
Forward-Looking Statements
This press release contains "forward-looking" statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including, without limitation,
statements regarding the payment of quarterly cash dividends in the
future, cash flow generation and sustainable long-term growth, the
impact of this dividend on the Company's ability to continue to
deploy capital to maximize shareholder returns, and the Company's
ability to maintain financial flexibility. These statements are
based on management's estimates and assumptions with respect to
future events, and are believed to be reasonable, though are
inherently difficult to predict. The Company cautions that these
forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in
these forward-looking statements. Undue reliance should, therefore,
not be placed on such forward-looking statements. Any
forward-looking statements contained in this announcement apply
only as at the date of this announcement and are not intended to
give any assurance as to future results. The Company will update
this announcement as required by applicable law, including the
Prospectus Rules, the Listing Rules, the Disclosure and
Transparency Rules, and any other applicable law or regulations,
but otherwise expressly disclaims any obligation or undertaking to
update or revise any forward-looking statement, whether as a result
of new information, future developments or otherwise.
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SOURCE Nomad Foods Limited