Buckle's BOD declares special dividend, 3-for-2 stock split
14 Dec '06
2 min read
The Buckle Inc announced that at its quarterly meeting of the Board of Directors, held on December 11, 2006, the Board authorized a $3.00 per share special one-time cash dividend to be paid to shareholders of record at the close of business on December 22, 2006. The one-time cash dividend is payable on January 2, 2007.
The Board also approved a 3-for-2 stock split payable in the form of a stock dividend to shareholders of record at the close of business on January 3, 2007.
The additional shares as a result of this split will be issued on or about January 15, 2007. Fractional shares will be paid out in cash to shareholders based upon the fair market value of the Company's common stock as of the close of business on January 3, 2007, the record date for the stock split.
The Board also authorized a 20 cents per share quarterly dividend payment to be paid to shareholders of record at the close of business on January 15, 2007, and payable on January 29, 2007. With the impact of the stock split, this is in effect a 50 percent increase in the Company's regular quarterly dividend rate.
The Buckle Inc also announced that Robert M. Carlberg has been appointed to the position of Vice President -- Men's Merchandising effective immediately upon approval from the Board of Directors at its December 11, 2006, meeting.
Prior to his appointment as Vice President -- Men's Merchandising, Bob has served the Company in various capacities over the past 23 years, most recently as a men's merchandiser.
Bob started with the Company as a salesperson and also worked as a store manager and as an area and district leader while being involved and traveling with the Men's Merchandising team. Bob has been full-time with the merchandising team since January of 2001.
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