LAKEWOOD, Colo. - Natural Grocers (NYSE:NGVC) by Vitamin Cottage, Inc. (NYSE:NGVC) disclosed on Thursday that its Board of Directors has approved a quarterly cash dividend of $0.10 per common share. This dividend is scheduled to be distributed on September 18, 2024, to shareholders who are on record as of September 3, 2024.
Natural Grocers, a company with a history dating back to 1955, specializes in the retail of natural and organic groceries, body care products, and dietary supplements. The company adheres to strict quality standards, ensuring that its products are free from artificial additives and certain oils. It is also committed to selling only USDA certified organic produce and ethically sourced animal products.
Operating 169 stores across 21 states, Natural Grocers has cultivated a reputation for its smaller, customer-friendly store format which emphasizes affordability, cleanliness, and convenience. In addition to selling products, the company is known for providing free nutrition education programs based on scientific research, aiming to assist customers in making informed health and nutrition decisions.
In other recent news, Natural Grocers by Vitamin Cottage, Inc. announced the forthcoming retirement of its CFO, Todd Dissinger, scheduled for December 31, 2024. The company will engage an executive search firm to find a new CFO, ensuring a seamless transition.
This development follows a strong second quarter for the fiscal year 2024, with the company reporting record sales and significant earnings growth. Natural Grocers saw a 7.5% increase in daily average comparable store sales, driven by higher customer traffic and larger transactions. This led to an upward revision of its fiscal 2024 guidance for sales growth and earnings.
The company also announced plans to open four to six new stores and relocate or remodel an equal number. However, it anticipates sales moderation in the second half of the year due to cycling stronger comps.
InvestingPro Insights
As Natural Grocers by Vitamin Cottage, Inc. (NYSE:NGVC) continues to deliver on its promise of quality and value to shareholders, a glance at the company's financial metrics through InvestingPro provides a deeper understanding of its current market position. With a market capitalization of approximately $542.9 million, the company operates with a Price-to-Earnings (P/E) ratio of 18.97, suggesting that investors are optimistic about Natural Grocers' earnings potential relative to its share price.
One InvestingPro Tip that stands out is the company's P/E ratio, which is trading at a discount relative to near-term earnings growth. This could indicate that the stock is undervalued, presenting a potentially attractive entry point for investors considering the company's growth prospects. On the revenue front, Natural Grocers has demonstrated a solid performance, with a 7.47% year-over-year growth in revenue, reaching $1.186 billion in the last twelve months as of Q2 2024.
Additionally, a notable InvestingPro Tip is the company's strong return over the last year, with a 96.49% one-year price total return, reflecting robust investor confidence and market performance. For investors looking for more insights, there are numerous additional tips available on InvestingPro, including an analysis of the company's liquidity position and long-term performance.
These insights, along with the company's commitment to dividend payments, underscore Natural Grocers' ability to maintain financial health while also rewarding its shareholders. With the next earnings date slated for August 8, 2024, stakeholders and potential investors can anticipate further updates on the company's financial trajectory.
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