Winmark Corporation Announces Increase in Cash Dividend

Rhea-AI Summary

Winmark Corporation (NASDAQ: WINA) announced an increase in its quarterly cash dividend to shareholders, now set at $0.80 per share, marking a $0.10 increase from the prior rate. This dividend will be paid on June 1, 2023 to shareholders of record as of May 17, 2023. Winmark operates a franchise business focused on sustainability and entrepreneurship, currently managing 1,297 franchises across its brands, which include Plato’s Closet and Play It Again Sports. As of April 1, 2023, there are over 2,800 available territories, with an additional 70 franchises awarded but not yet operational.

Positive

• Increased quarterly cash dividend to $0.80 per share, reflecting a $0.10 rise.
• Dividend payment date set for June 1, 2023, likely enhancing shareholder confidence.
• Strong franchise network with 1,297 operations and 2,800+ available territories.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Winmark Corporation (Nasdaq: WINA) announced today that its Board of Directors has approved an increase in its regular quarterly cash dividend to shareholders. The quarterly dividend of $0.80 per share represents an increase of $0.10 from its previous dividend rate. The cash dividend will be paid June 1, 2023 to shareholders of record on the close of business on May 17, 2023. Future dividends will be subject to Board approval.

Winmark -  the Resale Company®, is a nationally recognized franchising business focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At April 1, 2023, there were 1,297 franchises in operation and over 2,800 available territories. An additional 70 franchises have been awarded but are not open.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230419005690/en/

Anthony D. Ishaug

763/520-8500

Source: Winmark Corporation

FAQ

What is the new dividend amount for Winmark Corporation?

The new quarterly dividend amount for Winmark Corporation is $0.80 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on June 1, 2023, to shareholders of record as of May 17, 2023.

How many franchises does Winmark Corporation currently operate?

Winmark Corporation currently operates 1,297 franchises.

What are the sustainability initiatives of Winmark Corporation?

Winmark Corporation focuses on sustainability through its resale franchise businesses, promoting environmentally friendly practices.

When was the last dividend increase before the current announcement?

The press release did not specify the previous dividend amount before this announcement.