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Men's Wearhouse to pay Qtly cash dividend

27 Jan '06

2 min read

Men's apparel retailer Men's Wearhouse announced that on January 25, 2006, its Board of Directors declared its first quarterly cash dividend of $0.05 per share on the Company's common stock, payable on March 31, 2006 to shareholders of record at the close of business on March 21, 2006.

Additionally, the board authorized a new $100 million share repurchase program of the company's common stock.

"Their Board, management and employees have been extremely focused and dedicated to growing revenues, earnings and free cash flow which has paid off handsomely for their stockholders," said George Zimmer, Men's Wearhouse founder, Chairman and Chief Executive Officer.

"Due to their efforts they are extremely pleased to announce their first quarterly cash dividend as well as put into place a new $100 million share repurchase program.

"They have repurchased 14,597,200 shares for approximately $277 million in their share buyback programs since January 2000.

Through these significant investments in their common stock, and now this quarterly cash dividend to shareholders, the Board and management continue to demonstrate confidence in their company and in their ability to produce strong free cash flow," concluded Zimmer.

Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 720 stores.

The stores carry a full selection of designer, brand name and private label suits, sport coats, furnishings and accessories, including tuxedo rentals available in the Men's Wearhouse and Moores stores.

Men's Wearhouse

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