Weyco Group, Inc. Declares Special Cash Dividend
Weyco Group (NASDAQ: WEYS) has announced a special one-time cash dividend of $2.00 per share, totaling approximately $19.0 million. The dividend will be paid on January 2, 2025, to shareholders of record as of November 18, 2024. The company attributes this decision to strong financial performance resulting in excess cash beyond operational needs, capital expenditures, and corporate obligations. CEO Thomas W. Florsheim, Jr. stated that the company maintains a strong balance sheet and liquidity to support organic growth, business investments, and potential strategic opportunities or share repurchases.
Weyco Group (NASDAQ: WEYS) ha annunciato un dividendo speciale una tantum in contanti di 2,00 $ per azione, per un totale di circa 19,0 milioni di dollari. Il dividendo sarà pagato il 2 gennaio 2025 agli azionisti registrati al 18 novembre 2024. L'azienda attribuisce questa decisione a un solido performance finanziaria che ha portato a un eccesso di liquidità oltre le esigenze operative, le spese in conto capitale e gli obblighi aziendali. L'amministratore delegato Thomas W. Florsheim, Jr. ha dichiarato che l'azienda mantiene un solido bilancio e liquidità per supportare la crescita organica, gli investimenti aziendali e potenziali opportunità strategiche o riacquisti di azioni.
Weyco Group (NASDAQ: WEYS) ha anunciado un dividendo especial en efectivo único de 2,00 $ por acción, totalizando aproximadamente 19,0 millones de dólares. El dividendo se pagará el 2 de enero de 2025 a los accionistas registrados hasta el 18 de noviembre de 2024. La compañía atribuye esta decisión a un sólido rendimiento financiero que resulta en efectivo excedente más allá de las necesidades operativas, los gastos de capital y las obligaciones corporativas. El CEO Thomas W. Florsheim, Jr. declaró que la empresa mantiene un sólido balance y liquidez para apoyar el crecimiento orgánico, las inversiones empresariales y posibles oportunidades estratégicas o recompra de acciones.
웨이코 그룹 (NASDAQ: WEYS)는 주당 2.00 달러의 특별 1회성 현금 배당금을 발표했으며, 총액은 약 1,900만 달러입니다. 배당금은 2025년 1월 2일에 2024년 11월 18일 기준 주주에게 지급될 예정입니다. 회사는 이번 결정을 운영 필요, 자본 지출 및 기업 의무를 초과하는 잉여 현금으로 인한 강력한 재정 성과에 기인하고 있다고 밝힙니다. CEO인 토머스 W. 플로르쉠 주니어는 회사가 유기적 성장, 사업 투자 및 잠재적 전략적 기회 또는 자사주 매입을 지원할 수 있는 강력한 재무상태와 유동성을 유지하고 있다고 언급했습니다.
Weyco Group (NASDAQ: WEYS) a annoncé un dividende exceptionnel unique en espèces de 2,00 $ par action, totalisant environ 19,0 millions de dollars. Le dividende sera versé le 2 janvier 2025 aux actionnaires enregistrés au 18 novembre 2024. La société attribue cette décision à une solide performance financière entraînant un excédent de liquidités au-delà des besoins opérationnels, des dépenses d'investissement et des obligations d'entreprise. Le PDG Thomas W. Florsheim, Jr. a déclaré que l'entreprise maintient un bilan solide et une liquidité suffisante pour soutenir la croissance organique, les investissements commerciaux et les opportunités stratégiques potentielles ou le rachat d'actions.
Weyco Group (NASDAQ: WEYS) hat eine einmalige Sonderdividende in bar von 2,00 $ pro Aktie angekündigt, insgesamt etwa 19,0 Millionen Dollar. Die Dividende wird am 2. Januar 2025 an die Aktionäre ausgezahlt, die am 18. November 2024 im Aktienregister stehen. Das Unternehmen führt diese Entscheidung auf die starke finanzielle Leistung zurück, die zu einem Cash-Überschuss über die Betriebsbedürfnisse, Investitionsausgaben und Unternehmensverpflichtungen hinaus geführt hat. CEO Thomas W. Florsheim, Jr. erklärte, dass das Unternehmen eine starke Bilanz und Liquidität aufrechterhalte, um organisches Wachstum, Unternehmensinvestitionen und potenzielle strategische Gelegenheiten oder Aktienrückkäufe zu unterstützen.
- Special dividend of $2.00 per share announced, totaling $19.0 million
- Strong financial performance leading to excess cash
- Maintains strong balance sheet and liquidity position
- None.
MILWAUKEE, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weyco Group, Inc. (NASDAQ: WEYS) (the “Company”) announced that today its Board of Directors declared a special one-time cash dividend of
“We are pleased to announce this return of capital to shareholders,” stated Thomas W. Florsheim, Jr., Chairman and CEO. “Our strong financial performance over the past few years led to a buildup of cash in excess of the amount necessary to fund operations, capital expenditures, and fulfill corporate obligations. As a result, we are returning capital to shareholders in the form of a one-time special cash dividend alongside our regular quarterly dividend. Looking ahead, we believe our strong balance sheet and liquidity will continue to allow us to fund organic growth, invest in our business, and remain opportunistic with respect to future strategic opportunities or share repurchases.”
About Weyco Group
Weyco Group, Inc., designs and markets quality and innovative footwear principally for men, but also for women and children, under a portfolio of well-recognized brand names including: Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters, and Forsake. The Company’s products can be found in leading footwear, department, and specialty stores, as well as on e-commerce websites worldwide. Weyco Group also operates Florsheim stores in the United States, Australia, and South Africa.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Various factors could cause our results to be materially different from the results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the impact of inflation generally and, specifically, increases in our costs for materials, labor and other manufacturing inputs, a slow down or contraction in the overall U.S. or Australian economies, our ability to successfully market and sell our products in a highly competitive industry and in view of changing and unpredictable consumer trends, our ability to successfully procure our products from independent manufacturers on a timely basis, consumer acceptance of products and other factors affecting retail market conditions, increased interest rates, the uncertain impact of the wars in Ukraine and Israel and the related economic and other sanctions imposed by the U.S. and European Union, and other factors detailed from time to time in our filings made with the Securities and Exchange Commission, including our annual report on Form 10-K filed on March 14, 2024, which are incorporated herein by reference. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
For more information, contact:
Judy Anderson
Vice President, Chief Financial Officer and Secretary
414-908-1833
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