Welcome to our dedicated page for Willamette Vy Vineyard news (Ticker: WVVI), a resource for investors and traders seeking the latest updates and insights on Willamette Vy Vineyard stock.
Willamette Valley Vineyards reports developments tied to its Oregon wine business, including operating results, direct-to-consumer sales, distributor sales, and national distribution strategy. The company produces premium, super-premium, and ultra-premium wines, with Pinot Noir as a recurring focus, and sells principally under the Willamette Valley Vineyards label along with labels such as Griffin Creek, Tualatin Estate, Pambrun, Maison Bleue, Natoma, Metis, and Elton.
Company news also covers tasting room and wine club activity, hospitality and culinary programs, vineyard and production facilities, and capital actions such as preferred stock offerings. Its updates frequently distinguish between retail, wine club, online, events, kitchen and catering sales, and wholesale sales through distributors.
Willamette Valley Vineyards (NASDAQ: WVVI) has declared a cash dividend of $.22 per share on its Series A Redeemable Preferred stock (NASDAQ: WVVIP). The dividend is payable on December 31, 2020, to shareholders of record by the close of business on December 7, 2020. Shares issued after January 1, 2020 will receive a prorated dividend based on their issue date. The company warned that forward-looking statements may be impacted by various risks including financing availability, grape quality, competition, and regulatory changes.
Willamette Valley Vineyards reported a significant increase in income for Q2 2020, totaling $363,969 or $0.07 per share, up from $103,459 or $0.02 per share in Q2 2019, marking a 251.8% rise. Despite this, sales revenue decreased 3.8% year-over-year to $5,568,654. This decline resulted from lower direct and distributor sales due to COVID-19 restrictions. Gross profit increased marginally by 0.1%, while selling, general and administrative expenses saw an 11.9% reduction. Net income rose 72.4% from the previous year, highlighting the company's resilience amid challenges.
Willamette Valley Vineyards (NASDAQ: WVVI & WVVIP) will discuss the effects of the pandemic and state-mandated shutdowns on its operations during its Annual Shareholder Meeting on July 17, 2020, at 1 pm PT. This meeting is significant as it will be the first held virtually. Founder Jim Bernau expresses eagerness to share insights with stockholders and wine enthusiasts. The winery, located in Oregon, has established itself as a prominent Pinot Noir producer, emphasizing sustainable practices.