The Board of Directors of The Stride Rite Corporation has declared a quarterly cash dividend of seven-cents ($0.07) per share on the Company's outstanding common stock.
The seven-cent dividend, which is payable March 15, 2007 to stockholders of record at the close of business February 27, 2007 is a 17 percent increase over the previous quarterly rate of $0.06 per share.
This dividend marks the 185th consecutive quarterly cash dividend paid to stockholders since the Company's initial listing on the New York Stock Exchange in 1961.
David M. Chamberlain, Stride Rite's Chairman and Chief Executive Officer, said, “We are very pleased to announce this increase to our dividend. This action by our Board is a reflection of our confidence in Stride Rite's ability to generate increased earnings and solid cash flows.”
The Company also announced that its 2007 annual meeting of shareholders will be held at the Company's headquarters on April 12, 2007 at 10:00 a.m., local time. At the annual meeting, shareholders will elect three directors for a three year term, ratify the selection of its auditor and consider such other matters as may properly be brought before the meeting.
The record date for determining the shareholders of common stock of the Company having right to notice and vote at the annual meeting of shareholders is the close of business on February 20, 2007.
The Stride Rite Corporation
marketing@alchempro.com
