Kings Garden Announces Initiation of Regular Quarterly Dividend Backed by Record Financial Results in the First Half of 2020
Represents the first time in the history of the legal cannabis industry that a prominent brand has declared a regular cash dividend to shareholders1.
COACHELLA VALLEY, CA, June 20, 2020 /CNW/ – Kings Garden Inc (“Kings Garden” or the “Company”), one of the most prominent cannabis brands in the U.S. market, announced an industry-first today with the declaration of a regular quarterly dividend of US$1 million, to be paid at the end of Q2-2020 and quarterly thereafter.
“We are pleased to have the opportunity to pay a dividend to our shareholders based on our strong Q1 and Q2 performance,” said Michael King, Co-Founder and CEO. “Our shareholders trusted in our vision and have been our biggest supporters throughout the years. To our knowledge, this is a first for the legal cannabis industry and represents our commitment to take care of those who have shown continued faith in us.”
Co-Founder and CFO Lauri Kibby added, “Building a profitable cannabis company that would benefit the consumer and thereby benefit shareholders, has always been our number one objective. Despite the challenges of the COVID-19 pandemic, Kings Garden has maintained its focus on prudent capital allocation and as a result, achieved record-breaking sales in the first half of 2020.”
Based in Coachella Valley, Kings Garden is a leading cannabis cultivation, processing and manufacturing company, specializing in boutique products such as premium flower, concentrates, and vape cartridges. With a commitment to producing only top-shelf boutique products at commercial scale, Kings Garden has been able to maintain not only the integrity of its brand promise but consistently deliver a high-quality product that consumers have come to count on.
Charlie Kieley, Co-Founder and COO stated, “I would like to thank each and every one of our 180 Coachella Valley employees for their continuous commitment both to the Company’s vision and to translating that vision into results and great customer experiences every single day. I want to thank all of our retail partners and thanks to Chris Candelario, Bobby Ashtiani, Matt Chiu and our entire staff for their remarkable efforts. Underpinning the quality and experience of the Kings Garden product is our team’s focus on relentless execution, continuous efficiency, and consistency. These principles have served us well so far and they are the same principles that will help us drive continued growth in the back half of 2020 and beyond.”
Ivan Talan, Co-Founder and Director of Marketing added, “One of the main problems for startup brands and even some of the more established brands in the industry today, is that they haven’t spent the time to weave the essence of cannabis culture into their corporate DNA. This lack of understanding is one of the primary reasons brands fail in this space. Success is not just about marketing, or sales, or service. Success is about delivering an entire experience, based on day one on what real consumers are actually looking and asking for.”
About Kings Garden
Kings Garden is California’s predominant cannabis cultivation, processing and manufacturing company, specializing in the world of top-shelf, boutique products at an unsurpassed commercial scale. In an emerging industry filled with many newcomers, Kings Garden prides itself on having organized highly experienced cannabis management and operations teams and being one of the largest and most profitable cannabis companies.
For more information, visit https://kingsgarden.com
Media contact: Info@KingsGardenInc.com
SOURCE Kings Garden, Inc.