Cherokee Inc, a leading licensor and global brand management company, 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 September 15th 2006 to shareholders of record on September 1st 2006.
"Following our annual shareholders meeting yesterday, we had our quarterly Board Meeting, at which time our Directors approved a dividend of $0.60 per share to be paid in September," said Russell Riopelle, CFO of Cherokee Inc. "We're pleased to be able to continue to generate significant excess cash and return it to our shareholders."
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, it has licensing agreements in a number of categories, including family apparel, fashion accessories and footwear, as well as home furnishings and recreational products.
marketing@alchempro.com
