AMCON Distributing Company (“AMCON”) (AMEX:DIT), an Omaha, Nebraska
based consumer products company is pleased to announce that the Board of
Directors of AMCON has increased its quarterly cash dividend by 80% to a
rate of $0.18 per common share. The dividend is payable on November 30,
2009 to shareholders of record as of November 9, 2009.
At the same time, the Board of Directors also authorized a share
repurchase program of up to 50,000 shares of AMCON’s common stock. The
shares may be purchased from time to time in open market or negotiated
transactions.
Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer,
commented, “The dividend increase and share repurchase program reflect
the success of our focused strategic plan during fiscal 2009. We
continue to be fully committed to enhancing shareholder value at every
opportunity.”
AMCON is a leading wholesale distributor of consumer products, including
beverages, candy, tobacco, groceries, food service, frozen and chilled
foods, and health and beauty care products with distribution centers in
Illinois, Missouri, Nebraska, North Dakota and South Dakota.
Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc., both
wholly-owned subsidiaries of The Healthy Edge, Inc., operate health and
natural product retail stores in central Florida (6), Kansas, Missouri,
Nebraska and Oklahoma (4). The retail stores operate under the names
Chamberlin's Market & Cafe and Akins Natural Foods 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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