Over the years I have invested in the stock of a large number of companies. One of my favorites has been a small California based food company called Armanino Foods of Distinction. I originally bought the stock at a split adjusted price of 23 cents per share and today it is 48 cents per share. More important, however, is that during that time, the stock has paid a dividend in the range of 7% to 10% per year. In the last year, the growth of the company has been accelerating. Today, the company announced both record sales and earnings (the announcement is linked to the title of this post.)
Armanino has been moving towards sales in large retail outlets like Ralphs stores out West. Today's announcement indicates that the company is close to placement in a number of other large chains that could move the company's sales substantially higher. Right now, I think this is a great stock to own. It pays a high dividend and seems likely to appreciate in value. The management is both shareholder friendly and extremely competent. And there is always the possibility of some other food company buying Armanino for a substantial premium in price.
No comments:
Post a Comment