J&J Snack doubles dividend payout
by Eric Schroeder
PENNSAUKEN, N.J. — The board of directors of J&J Snack Foods Corp. on Nov. 21 declared a regular quarterly cash dividend of 32c per share of its common stock payable on Jan. 7, 2014, to shareholders of record as of the close of business on Dec. 20, 2013. The cash dividend of 32c per share represents a doubling of the previous quarterly dividend rate of 16c per share. The company’s share price moved up as high as $83.39 on Nov. 21 after opening the day at $81.95. J&J Snack Foods earlier this month recorded strong results for fiscal 2013. Net income in the year ended Sept. 28 was $64,381,000, equal to $3.43 per share on the common stock, up 19% from $54,118,000, or $2.87 per share, in fiscal 2012. Net sales increased 4% to $867,683,000 from $830,796,000.