So. GA Baker earns money - WALB.com, Albany News, Weather, Sports

So. GA Baker earns money

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THOMASVILLE, GA (WALB) -

As labor issues cause the company that makes Twinkies and Wonder Bread to close its operations, Thomasville's Flowers Foods announced earnings for its stockholders Friday.

Irving, Texas based Hostess brand filed the motion with the U.S. Bankruptcy court.  

Here is the Flowers statement:

The board of directors of Flowers Foods (NYSE: FLO) today announced a quarterly dividend of $.16 per share.

This action renews the annual dividend rate of $.64. The dividend is payable on December 14, 2012, to shareholders of record on November 30, 2012.

Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is the second-largest producer and marketer of packaged bakery foods for retail and foodservice customers in the United States with 2011 sales of $2.8 billion.

Flowers operates 44 bakeries that produce a wide range of bakery products.

These products are sold through a direct-store-delivery network with access to approximately 70% of the U.S. population in the East, South, and Southwest as well as in certain markets in California.

Select Flowers products are sold nationwide through customers' delivery systems.

Among the company's top brands are Nature's Own and Tastykake.

For more information, visit www.flowersfoods.com.

As for Hostess, the company will sell its assets and facilities and lay off all 18,500 workers.  Officials say a nationwide strike by workers crippled its ability to make and deliver it products.

Bakery operations have been suspended at all plants. However, delivery will continue and hostess brand retail stores will stay open for several days to sell off already baked products.

One of the company's largest unions, BCTMG, initiated a nationwide strike last month after rejecting a final offer from hostess designed to lower costs so the company could emerge chapter 11.

Company CEO Gregory Rayburn said hostess does not have the financial resources to weather an extended nationwide strike.

Copyright 2012 WALB.  All rights reserved. The AP contributed to this report.

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