Winmark Corporation Announces Quarterly Cash Dividend and Increase in Share Repurchase Authorization

Rhea-AI Summary

Winmark Corporation (Nasdaq: WINA) has announced a quarterly cash dividend of $0.45 per share to be paid on September 1, 2021, to shareholders on record as of August 11, 2021. The company’s Board of Directors also approved an increase of 400,000 shares to its share repurchase authorization, representing about 11% of outstanding shares. The repurchase can be conducted through various methods without a set end date. Winmark operates 1,266 franchises in the resale industry, highlighting its commitment to sustainability and small business growth.

Positive

• Quarterly dividend of $0.45 per share enhances shareholder value.
• Increase of 400,000 shares in repurchase authorization shows confidence in the company's future.

Negative

• None.

Winmark Corporation (Nasdaq: WINA) announced today that its Board of Directors has approved the payment of a quarterly cash dividend to shareholders. The quarterly dividend of $0.45 per share will be paid September 1, 2021 to shareholders of record on the close of business on August 11, 2021. Future dividends will be subject to Board approval.

Winmark also announced today that its Board of Directors has approved a 400,000 share increase to its existing share repurchase authorization. This increase represents approximately 11% of Winmark’s current shares outstanding.

The authorization does not constitute a commitment to repurchase shares. Winmark may conduct the repurchases through open market purchases, block trades, negotiated transactions, or any other manner that complies with the provisions of the Securities and Exchange Act of 1934, as amended. There is no end date to the share repurchase program.

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 June 26, 2021, there were 1,266 franchises in operation and over 2,000 available territories. An additional 36 franchises have been awarded but are not open.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005736/en/

FAQ

What is the amount of the dividend announced by Winmark for September 2021?

Winmark announced a quarterly cash dividend of $0.45 per share to be paid on September 1, 2021.

How many shares will Winmark repurchase following the recent authorization?

Winmark has approved a repurchase of 400,000 additional shares, approximately 11% of its current shares outstanding.

When is the record date for Winmark's upcoming dividend?

The record date for Winmark's upcoming dividend is August 11, 2021.

What are the details of Winmark's share repurchase program?

The share repurchase can be conducted through various means and does not have a fixed end date.

How many franchises does Winmark operate as of June 2021?

As of June 26, 2021, Winmark operates 1,266 franchises in the resale industry.