Arden Group, Inc. Announces Third Quarter Earnings and Special Cash Dividend.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Arden Group, Inc. (Nasdaq:ARDNA) today released its sales and income figures for the third quarter ended September 27, 2008. The Company also announced that on November 3, 2008, its Board of Directors declared a special cash dividend of twenty-five dollars ($25) per share on its Class A Common Stock. The special cash dividend will be paid on December 8, 2008 to stockholders of record at the close of business on November 20, 2008. The special cash dividend will total $79,027,450. Bernard Briskin, Chief Executive Officer and Chairman of the Board, stated, "The Board of Directors of Arden Group, Inc. concluded that in view of the Company's strong financial position, including its cash, marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has and positive cash flow, Arden would have adequate funds after the special dividend to meet current capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ." Mr. Briskin is the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of 1,807,745 shares of the Company's Class A Common Stock, representing approximately 57.2% of the outstanding Class A Common Stock (a portion of which is also beneficially owned by his spouse). Arden Group, Inc. is the parent company of Gelson's Markets which operates 18 supermarkets in Southern California. The foregoing press release contains forward-looking statements which are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of various factors, including the economic condition in Southern California, competition from other grocers and the impact of uninsured losses. For further information concerning risks and uncertainties associated with the Company and its business, see the "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 29, 2007 and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 28, 2008. (TABULAR INFORMATION ATTACHED) [TABLE OMITTED] [TABLE OMITTED] |
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