Cherokee Announces Cash Dividend.VAN NUYS, Calif.--(BUSINESS WIRE)--April 6, 1998--Cherokee Inc. (Nasdaq:CHKE) Monday announced that its board of directors has declared a cash dividend of 50 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. to be distributed on May 1, 1998, to the company's shareholders of record on the close of business on April 17, 1998. ``With the continued increase in revenues and the company's current cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. , which exceed $10 million, the board believes that the resumption RESUMPTION. To reassume; to promise again; as, the resumption of payment of specie by the banks is general. It also signifies to take things back; as the government has resumed the possession of all the lands which have not been paid for according to the requisitions of the law, and the of a quarterly dividend is in the best interest of its shareholders,'' said Robert Margolis, chairman and chief executive officer of Cherokee. Carol Gratzke, chief financial officer, said, ``Assuming the company's cash position continues to be favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. , we intend to maintain a quarterly cash dividend of 25 cents per share for the balance of this fiscal year ending Jan. 30, 1999.'' Cherokee, based in Van Nuys, is a worldwide marketer and licenser of brand products, including Cherokee, Sideout, King of the Beach, A-Smile, American Legends and Pacific Express. Cherokee currently has licensing agreements in many categories, including family apparel, fashion accessories Fashion accessories are items apart from the garment itself, which complement the whole outfit. Fashion accessories include jewelry, gloves, handbags, hats, or scarves. and home textiles including linens, as well as luggage, cosmetics and footwear. For more information on Cherokee by facsimile at no cost, call 800/PRO-INFO and enter company code CHKE. -0- This release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such statements are subject to risks and uncertainties. Actual results could vary materially from these statements or current trends. Investors should refer to Cherokee's filings with the Securities and Exchange Commission, including forms 10-K and 10-Q, for a fuller description of risk factors. CONTACT: Cherokee Inc., Van Nuys Carol Gratzke, 818/908-9868 or The Financial Relations Board Inc., 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. Haris Tajyar, 310/442-0599 (general information) |
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