Cherokee Inc. a global marketer of style-focused lifestyle brands, announced today that its Board of Directors approved the distribution of a quarterly dividend of $0.05 per common share to stockholders of record as of April 11, 2014. The dividend will be payable on or about June 15, 2014.
Henry Stupp, Chief Executive Officer of Cherokee Inc., commented, “Both our Board of Directors and management team remain committed to maximizing stockholder value. We continue to focus on further growing each of our brands and expanding our retail relationships, as well as capitalizing on our recent acquisitions while continuing to aggressively identify new accretive acquisitions in order to generate sustainable, profitable growth that will allow us to invest for the future and return cash 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, available cash, cash flow, capital requirements and other factors deemed relevant by the Board of Directors.
About Cherokee Inc.
Cherokee Inc. is a global marketer and manager of a portfolio of Fashion and Lifestyle brands including Cherokee, Carole Little, Tony Hawk Signature Apparel and Hawk Brands, Liz Lange and Sideout, in multiple consumer product categories and sectors around the world. The Company has license agreements with premier retailers and manufacturers covering over 40 countries around the world.