Cherokee Declares Quarterly Dividend of 25 Cents per Share.VAN NUYS, Calif.--(BUSINESS WIRE)--Oct. 9, 1998--Cherokee Inc. (Nasdaq:CHKE), one of the leading licensors of brand names and trademarks for apparel, footwear and accessories in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Friday announced that its board of directors has declared a quarterly cash dividend of 25 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 Nov. 5, 1998, to the company's shareholders of record on the close of business on Oct. 20, 1998. "Today's dividend announcement reflects the ongoing success of our growth strategy, which has contributed to our rapid revenue and EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). growth and creation of shareholder value," said Carol Gratzke, chief financial officer of Cherokee. "Providing that we continue to accumulate Accumulate Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security excess 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. , our board expects to continue to declare shareholder dividends and/or use our cash to pursue potential brand acquisitions." Cherokee, based in Van Nuys, a marketer and licensor of Cherokee- and Sideout-brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and 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. as well as luggage, cosmetics and footwear. For more information on Cherokee by facsimile at no cost, call 800/PRO-INFO and enter dial code CHKE. This release contains 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. regarding the company's future financial and operational performance, the declaration of future dividend payments and the potential acquisition of new brands. Such statements are subject to risks and uncertainties, including but not limited to a downturn in the apparel industry or national or international economies and the effectiveness of the company's efforts to develop and market the company's brands to attract additional licensees. 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.) |
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