Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company operating primarily in the United States, serving a broad range of customers across the restaurant, foodservice, and retail food channels. The company distributes national and proprietary-branded food and food-related products, including frozen, refrigerated, and dry grocery items, as well as non-food products such as equipment and supplies. Performance Food Group operates within the food distribution and logistics industry, positioning itself as a critical intermediary between food manufacturers and foodservice operators.
The company’s primary revenue drivers are its large-scale distribution services to independent restaurants, national and regional restaurant chains, healthcare and education institutions, and retail customers. Performance Food Group differentiates itself through a multi-segment operating model, proprietary brand portfolio, and a national distribution network that supports next-day delivery and customized service. Founded in 1885 as Pocahontas Foods, the company evolved through organic growth and acquisitions, rebranding as Performance Food Group in 2015 following its initial public offering and the consolidation of several legacy distribution businesses.
Business Operations
Performance Food Group generates revenue through three primary operating segments: Performance Foodservice, Vistar, and Core-Mark. Performance Foodservice is the largest segment, supplying food and related products to independent restaurants, chains, and institutional customers. Vistar focuses on specialty distribution, serving theaters, convenience stores, vending operators, and alternative channels. Core-Mark, acquired in 2021, operates as a leading distributor to convenience retail stores, supplying fresh and center-store products, foodservice items, and tobacco-related products.
The company operates an extensive distribution infrastructure, including more than 150 distribution centers, leveraging advanced logistics, routing technology, and inventory management systems. Operations are primarily domestic, with limited international exposure through select sourcing and supplier relationships. Performance Food Group controls a broad portfolio of proprietary brands and maintains long-standing supplier relationships with major food manufacturers. Its subsidiaries include Performance Foodservice, Vistar, and Core-Mark, each operating with dedicated sales forces and tailored service models.
Strategic Position & Investments
Performance Food Group’s strategic direction emphasizes organic growth, operational efficiency, and targeted acquisitions that expand scale, product offerings, or customer reach. A major strategic milestone was the acquisition of Core-Mark Holding Company, which significantly expanded the company’s presence in the convenience retail channel and diversified revenue streams beyond traditional foodservice distribution.
The company continues to invest in automation, warehouse optimization, and data-driven customer solutions to enhance margin performance and service reliability. Performance Food Group is also focused on expanding its proprietary brand portfolio and private-label offerings to improve differentiation and profitability. While the company is not a technology developer, it actively invests in supply chain technologies, e-commerce ordering platforms, and analytics capabilities to support customers and improve operational resilience.
Geographic Footprint
Performance Food Group’s operations are concentrated in North America, with a dominant presence across the United States and limited operations in Canada. The company is headquartered in Richmond, Virginia, and its distribution network spans all major U.S. regions, including the Northeast, Southeast, Midwest, Southwest, and West Coast.
The company’s nationwide footprint enables it to serve both urban and rural markets with consistent service levels. While Performance Food Group does not have significant direct operations outside North America, its scale gives it global sourcing reach and purchasing leverage with multinational suppliers, supporting competitive pricing and product availability across its domestic network.
Leadership & Governance
Performance Food Group is led by an executive team with deep experience in food distribution, logistics, and retail supply chains. The company emphasizes decentralized decision-making, customer-centric service, and disciplined capital allocation as core elements of its leadership philosophy. Governance is overseen by an independent board of directors with expertise in distribution, consumer products, finance, and operations.
Key executives include:
- George L. Holm – Executive Chairman
- David S. McNew – President & Chief Executive Officer
- Mitchell L. Slater – Executive Vice President & Chief Financial Officer
- Scott E. McPherson – Executive Vice President & Chief Operating Officer
- Beth A. Kunz – Executive Vice President & Chief Information Officer
The leadership team’s strategic vision centers on long-term value creation through scale, operational excellence, and disciplined growth across multiple food distribution channels.