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 December 15, 2005 to shareholders of record on December 1, 2005.
" Board of Directors has decided to increase the dividend to be paid in December to $0.60 per share, which represents a 9.0 Percent increase over the $0.55 per share dividend paid in September," said Russell J. Riopelle, CFO of Cherokee Inc. "They're pleased to be able to continue to generate significant excess cash and return this cash to 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.
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), Carrefour (selected countries in Europe and South America) 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.).
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