Lassonde Industries Inc. amends its dividend policy and declares a quarterly dividend of $1.00 per share

ROUGEMONT, QC, Feb. 14, 2024 /CNW/ - Lassonde Industries Inc. (TSX: LAS.A) (the "Corporation") announces that it has amended its dividend policy, which consisted of declaring and paying to holders of Class A Subordinate Voting Shares and of Class B Multiple Voting Shares, on an annualized basis, a dividend representing approximately 25% of profit attributable to shareholders from the previous fiscal year.

The dividend policy is amended such that the declaration, amount and payment of dividends on Class A Subordinate Voting Shares and Class B Multiple Voting Shares of the Corporation, are at the discretion of the Board of Directors which, in its decisions, will take into account the financial results, capital requirements and available cash flows of the Corporation, the outlook with respect to its activities and, if applicable, other factors that it deems relevant. The dividend is currently expected to remain at this level, subject to the Board of Directors' ongoing evaluation of the previously listed factors.

The Corporation is pleased to announce that, in accordance with its new dividend policy, holders of Class A Subordinate Voting Shares and Class B Multiple Voting Shares registered as at February 26, 2024, will receive a quarterly dividend of $1.00 per share, payable on March 15, 2024. This dividend is an eligible dividend.

About Lassonde

Lassonde Industries Inc. is a leader in the food and beverage industry in North America. The Corporation develops, manufactures, and markets a wide range of private label and national brand products, including ready-to-drink beverages, fruit–based snacks as well as frozen juice concentrates. It is also a leading producer of cranberry sauces and specialty food products such as pasta sauces, soups and fondue broths and sauces. The Corporation also imports and markets selected wines from several countries of origin and produces apple cider and cider-based drinks.

The Corporation operates 16 plants located in Canada and the United States and produces its superior quality products through the expertise of over 2,700 full-time equivalent employees. To learn more, visit www.lassonde.com

The Corporation is active in two market segments:

• Retail sales consist of (i) sales to food retailers and wholesalers such as supermarket chains, independent grocers, superstores, warehouse clubs, major pharmacy chains and (ii) online sales; and
• Food service sales consist of sales to restaurants, hotels, hospitals, schools, and wholesalers serving these institutions.

SEDAR registration number: 00002099

SOURCE Lassonde Industries Inc.

Copyright 2024 Canada NewsWire