B&G Foods Announces Cash Payments on Enhanced Income Securities.PARSIPPANY, N.J. -- B&G Foods, Inc. (AMEX AMEX See: American Stock Exchange : BGF BGF Black Guerrilla Family (Afro-American prison gang symbol/tattoo) BGF Boursier du Gouvernement Français (French) BGF Black Guerilla Family (gang) BGF Best Guy Friend ), a manufacturer and distributor of high quality, shelf-stable foods, announced today that a cash payment of $0.4265 per Enhanced Income Security ("EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. ") will be payable on April 30, 2007 to holders of record of EISs on March 31, 2007. Each of the EISs is comprised of one share of Class A common stock and $7.15 principal amount of 12% senior subordinated notes due 2016. The total payment of $0.4265 reflects: * a cash dividend of $0.2120 per share of Class A common stock for the quarterly dividend period beginning on December 31, 2006 and ending on March 31, 2007, the last day of B&G Foods' first fiscal quarter of 2007; and * an interest payment of $0.2145 per $7.15 principal amount of senior subordinated notes for the period beginning on January 30, 2007 and ending on April 29, 2007, as provided in the indenture governing the senior subordinated notes. About B&G Foods, Inc. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods' products include hot cereals, jams, jellies and fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses molasses, sugar byproduct, the brownish liquid residue left after heat crystallization of sucrose (commercial sugar) in the process of refining. Molasses contains chiefly the uncrystallizable sugars as well as some remnant sucrose. , salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles and peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty store, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods' products are marketed under many recognized brands, including Ac'cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat Cream of Wheat is a hot breakfast cereal invented in 1893 by wheat millers in Grand Forks, North Dakota[1]. The cereal is currently manufactured and sold by B&G Foods. Until 2007, it was the Nabisco brand made by Kraft Foods. , Emeril's, Grandma's Molasses, Joan of Arc Joan of Arc, Fr. Jeanne D'Arc (zhän därk), 1412?–31, French saint and national heroine, called the Maid of Orléans; daughter of a farmer of Domrémy on the border of Champagne and Lorraine. , Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, San Del, Ac'cent Sa-Son, Trappey's, Underwood, Vermont Maid and Wright's. Enhanced Income Securities (EISs)[TM] is a trademark owned by Royal Bank of Canada Bank of Canada Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. . |
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