THE
MIDDLEBY CORPORATION ANNOUNCES
$0.10 PER SHARE SPECIAL DIVIDEND
Elgin, IL, December
11, 2000 - The Middleby Corporation (NASDAQ: MIDD), a global supplier of
equipment to the foodservice industry, announced today that its Board of
Directors has approved the payment of a $0.10 per common share special dividend
to shareholders of record as of the close of business on December 20, 2000. The
special dividend will be paid on or about December 29, 2000.
The Company has approximately 8,997,000 common shares outstanding.
Commenting on the
Board’s action, William F. Whitman, Jr., Chairman, said, “In light of the
Company’s change in capital structure as a result of the recently completed
self tender offer and in recognition of the Company’s recent earnings and
strong after-tax cash flows the Board wanted shareholders to participate in the
Company’s progress.”
Shareholders may obtain additional information by contacting Mr. Martin Lindsay at The Middleby Corporation at (847) 741-3300 extension 7711, or Continental Stock Transfer & Trust Company at (212) 509-4000.
Statements in this press release or otherwise attributable to the Company regarding the Company’s business which are not historical fact are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions investors that such statements are estimates of future performance and are highly dependent upon a variety of important factors that could cause actual results to differ materially from such statements. Such factors include, but are not limited to, quarterly variations in operating results; dependence on key customers; international exposure; foreign exchange and political risks affecting international sales; changing market conditions; the impact of competitive products and pricing; the timely development and market acceptance of the Company’s products; the availability and cost of raw materials; and other risks detailed herein and from time-to-time in the Company’s SEC filings, including those discussed under the heading entitled “Risk Factors” in the Company’s Registration Statement on Form S-2 (No. 333-35397) filed with the Securities and Exchange Commission.
The Middleby Corporation is a leader in the design,
manufacture, marketing and service of a broad line of equipment used for cooking
and preparation of food in commercial and institutional kitchens and restaurants
throughout the world. The
Company’s leading equipment brands include Middleby Marshallâ,
Southbend â,
and Toastmaster â.
Middleby’s international subsidiary, Middleby Worldwide, is a leading
exporter and distributor of foodservice equipment in the global marketplace and
its international fabrication subsidiary, Middleby Philippines Corporation, is a
leading supplier of specialty equipment in the Asian markets.
For further information about Middleby, visit the Company’s World Wide Web site, http://www.middleby.com.
Contact:
David B. Baker, Chief Financial Officer – 847- 429-7915
Martin M. Lindsay, Treasurer – 847- 429-7711