AMCON Distributing Company Announces Charles J. Schmaderer Named CFO and $0.18 Quarterly Dividend
27 Octobre 2020 - 10:25PM
Business Wire
AMCON Distributing Company (“AMCON”) (NYSE American: DIT), an
Omaha, Nebraska-based consumer products company is pleased to
announce that Charles J. “Chuck” Schmaderer has been named as Chief
Financial Officer of AMCON, in addition to the positions he
presently holds as Vice President and Secretary of AMCON. Andrew C.
Plummer, who has served as AMCON's Chief Financial Officer since
January 2007, will continue to serve as AMCON's President and Chief
Operating Officer, as well as being a member of AMCON's Board of
Directors.
“Chuck has been a key member of our financial team at AMCON
since 2006 and has worked closely with Andy and I over the years
implementing a wide range of long term strategic initiatives,” said
Christopher H. Atayan, AMCON’s Chairman and Chief Executive
Officer.
“We have built a strong culture of financial stewardship at
AMCON over the years, and Chuck’s hard work and dedication have
been central to those efforts. As our footprint continues to grow,
the systems and procedures developed by Chuck and his finance team
will provide a strong foundation to build upon,” said Andrew C.
Plummer, AMCON’s President and Chief Operating Officer.
“One of the key tenets of AMCON’s operating philosophy over the
years has been a relentless focus on the success of our customers.
I look forward to building upon the Company’s foundation of
financial strength and capabilities in support of this mission in
the coming years,” said Charles J. Schmaderer, AMCON’s Chief
Financial Officer.
In addition, we are pleased to announce that the Board of
Directors of AMCON declared a quarterly cash dividend of $0.18 per
common share. This cash dividend is payable on December 1, 2020 to
shareholders of record as of November 6, 2020.
At the same time, the Board of Directors replenished the number
of shares authorized for repurchase under AMCON’s existing Common
Stock repurchase program. The program provides for the purchase of
up to 75,000 shares of AMCON’s common stock; the shares may be
purchased from time to time in open market or negotiated
transactions.
AMCON is a leading wholesale distributor of consumer products,
including beverages, candy, tobacco, groceries, foodservice, frozen
and chilled foods, and health and beauty care products with
distribution facilities in Illinois, Missouri, Nebraska, North
Dakota, South Dakota and Tennessee. AMCON also operates twenty-one
(21) health and natural product retail stores in the Midwest and
Florida. The retail stores operate under the names Akin’s Natural
Foods Market www.akins.com in its Midwest market, and Chamberlin's
Market & Cafe www.chamberlins.com, and Earth Origins Market
www.earthoriginsmarket.com in its Florida market.
This news release contains forward-looking statements that are
subject to risks and uncertainties and which reflect management's
current beliefs and estimates of future economic circumstances,
industry conditions, Company performance and financial results. A
number of factors could affect the future results of the Company
and could cause those results to differ materially from those
expressed in the Company's forward-looking statements including,
without limitation, availability of sufficient cash resources to
conduct its business and meet its capital expenditures needs and
the other factors described under Item 1.A. of the Company’s Annual
Report on Form 10-K. Moreover, past financial performance should
not be considered a reliable indicator of future performance.
Accordingly, the Company claims the protection of the safe harbor
for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995 with respect to all such
forward-looking statements.
Visit AMCON Distributing Company's web site
at: www.amcon.com
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version on businesswire.com: https://www.businesswire.com/news/home/20201027006234/en/
Christopher H. Atayan AMCON Distributing Company Ph
402-331-3727
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