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Home décor retailer Gordmans sales up 6.7% in Q2 FY'13
29 Aug '13
3 min read
The credit facility will carry an interest rate of Prime plus 0.50% to 1.50% or LIBOR plus 1.25% to 2.50% on drawn proceeds, as selected by the Company, based on the excess availability and time of year. As of August 23, 2013, the Company had no outstanding borrowings under the credit facility.
Mr. Gordman commented, "Today's announcement of a special cash dividend underscores Gordmans' commitment to maximize shareholder value. Our strong balance sheet, strong projected future cash flows, and finally, a favorable lending environment, enable us to issue this special dividend without impairing our ability to continue to execute our growth plans."
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