Sanfilippo & Son approves special stock dividend

ELGIN - John B. Sanfilippo & Son Inc. said its board of directors declared a special cash dividend of $1.50 per share on all issued and outstanding shares of common stock.

In addition to the special dividend, the board declared a regular annual cash dividend of 75 cents per share. The aggregate payment for both the special dividend and annual dividend will be approximately $26 million, the company said.

Sanfilippo & Son is a processor, packager, marketer and distributor of nut and dried fruit-based products that are sold under a variety of private brands, as well as its own Fisher nuts, Orchard Valley Harvest and other brands.

"Our financial performance in the first three quarters of fiscal 2022 has provided us the opportunity to declare the special dividend and increase our annual dividend by 5 cents per share over last year's annual dividend," said Jeffrey T. Sanfilippo, chairman and chief executive officer. "These dividends, like our previous dividends, further reinforce our goal of creating long-term stockholder value through the responsible use of cash.

The dividends will be paid on Aug. 31 to stockholders of record as of the close of business on Aug. 12.