Winmark announces special dividend of $5.00 per share

05 Feb '14

2 min read

Winmark Corporation announced that its Board of Directors has approved the payment of a special dividend to shareholders. The special dividend of $5.00 per share will be paid on March 3, 2014 to shareholders of record on the close of business on February 17, 2014.

The total amount of the special dividend payment will be approximately $25.7 million based on the current number of shares outstanding. Future dividends will be subject to Board approval.

“Our second special dividend in the past two years reflects the strong cash flow created by both our franchising business and leasing business. Our continued philosophy is to manage the company in a manner whereby shareholder and management interests are aligned.”

It is anticipated that Winmark will use a combination of cash on hand as well as bank borrowings to finance the special dividend. John L. Morgan, Chairman and Chief Executive Officer, stated “Our second special dividend in the past two years reflects the strong cash flow created by both our franchising business and leasing business.

Our continued philosophy is to manage the company in a manner whereby shareholder and management interests are aligned.”

Winmark Corporation creates, supports and finances business. At December 28, 2013, there were 1,005 franchises in operation under the brands Plato's Closet, Once Upon A Child, Play It Again Sports, Music Go Roundand Style Encore. An additional 112 retail franchises have been awarded but are not open. In addition, at September 28, 2013, the Company had a lease portfolio of $36.7 million.

Winmark Corporation

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