Cherokee approves to pay Qtly dividend of $0.60 per share
27 Apr '06
2 min read
Leading brand Management Company Cherokee Inc announced that its Board of Directors has approved the distribution of a quarterly dividend to shareholders of $0.60 per share. The dividend will be payable on or about June 15, 2006 to shareholders of record on June 1, 2006.
Board of Directors has approved a quarterly dividend of $0.60 per share to be paid in June, said Russell J. Riopelle, CFO of Cherokee Inc.
This represents the 11th consecutive quarterly dividend and translates into an approximate 6 percent yield. We are pleased to be able to continue to generate significant excess cash and return this cash to our shareholders, which is evidence of our strong and stable financial position.
The payment of any future dividends will be at the discretion of Cherokee's Board of Directors and will be dependent upon Cherokee's financial condition, results of operations, cash flow, capital requirements and other factors deemed relevant by Cherokee's Board of Directors.
Cherokee Inc, based in Van Nuys, is a marketer, licensor and manager of a variety of brands it owns (Cherokee, Sideout, Carole Little and others) and represents.
Currently, Cherokee has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products.
Premier clients for the Cherokee brand around the world include Target Stores (U.S.), Tesco (U.K., Ireland and certain other European and Asian countries), Zellers (Canada), and Grupo Aviara (Mexico).
Premier clients for Cherokee's Sideout brand include Mervyn's (U.S.) and Shanghai Bolderway (China), and for Cherokee's Carole Little brands include TJX Companies (U.S., Canada and Europe).
Other key clients of Cherokee include Hearst Publications and Solera Capital (U.S.).
marketing@alchempro.com
