Sanfilippo board sets special dividend

ELGIN - John B. Sanfilippo & Son's board of directors declared a special cash dividend of $2.50 per share on all issued and outstanding shares of Common Stock, and $2.50 per share on all issued and outstanding shares of Class A common stock.

The dividend will be paid on Aug. 4 to stockholders of record as of the close of business on July 21.

"Our financial performance in fiscal 2016 has provided us the opportunity to return profits to our stockholders through this dividend," said Chairman and Chief Executive Officer Jeffrey T. Sanfilippo. "This marks the fifth consecutive year of returning profits to our stockholders through a special dividend.

"This special dividend, like our previous dividends, further reinforces our goal of creating long-term stockholder value through the responsible use of cash. This dividend would not be possible without the hard work and dedication of all our employees," he added.

Sanfilippo said he expects the board will consider declaring a special dividend in the second quarter of 2017, based on the company; s financial performance.