Quality Apparel seller Nitches Inc announced that the Board of Directors has approved the distribution of a stock dividend of two hundred percent per share to the holders of record as of January 3, 2006. The dividend will be issued on January 20, 2006. The Company had 1,351,169 shares of its common stock outstanding as of December 16, 2005.
As a result of the stock dividend, the Company will have 4,053,507 shares of common stock outstanding. This action is being taken to increase public float, or freely traded shares, of the Company's stock, thereby improving liquidity for investors.
San Diego, California based Nitches Inc is an importer and wholesale distributor of men's and women's garments, manufactured to specifications primarily in foreign countries.
The Company's shares are traded on the National SmallCap Market under the symbol NICH.
Nitches leverages fabric focus and production expertise to provide apparel products and manufacturing services to defined market segments at a low cost. Apparel designers and retailers alike choose Nitches to fulfill their manufacturing needs.
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