Bridgford Foods Corp. Announces Quarterly Dividend.Business Editors ANAHEIM Anaheim (ăn`əhīm), city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. , Calif.--(BUSINESS WIRE)--May 13, 2003 Bridgford Foods Corp. (Nasdaq:BRID n. 1. A bird. ) today announced a reduced quarterly cash dividend of $0.03 per share. The reduction from the previous rate of $0.05 per share relates to reduced earnings in the current fiscal year. Bridgford Foods previously announced a $0.01 per share loss in the first quarter of the 2003 fiscal year, compared with earnings of $0.15 per share reported for the first quarter last year. The dividend is payable July 3, 2003, to shareholders of record on June 5, 2003. Bridgford Foods, a producer of frozen bread dough, processed meats, microwaveable sandwiches, dry sausages and other convenience food products, currently has 10,394,000 shares outstanding. The company has purchased approximately 54,000 shares of its common stock on the open market this year at an average cost of $7.49 per share. The board of directors previously authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: a total of 1.5 million shares to be acquired under a stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. . Currently, 524,000 shares remain available for repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. under this plan. |
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