The Buckle, Inc. Announces a $3.00 per Share Special One-Time Cash Dividend, a $0.30 per Share Quarterly Dividend, and a 3-for-2 Stock Split
September 16, 2008 at 07:00 AM EDT
KEARNEY, NE -- (Marketwire) -- 09/16/08 -- The Buckle, Inc. (NYSE: BKE) announced that at its quarterly meeting of the Board of Directors, held on September 15, 2008, the Board authorized a $3.00 per share special one-time cash dividend to be paid to shareholders of record at the close of business on October 15, 2008. The one-time cash dividend is payable on October 27, 2008.
The Board also authorized a $0.30 per share quarterly dividend to be paid to shareholders of record at the close of business on October 15, 2008, with a payment date of October 27, 2008. This is an increase of $0.05 per share, or 20 percent, from the quarterly dividend rate of $0.25 per share paid during each of the previous four quarters.
The Board also approved a 3-for-2 stock split payable in the form of a stock dividend to shareholders of record at the close of business on October 15, 2008. The additional shares as a result of this split will be issued on or about October 30, 2008. Fractional shares will be paid out in cash to shareholders based upon the fair market value of the Company's common stock as of the close of business on October 15, 2008, the record date for the stock split.
Please note that the special one-time cash dividend and the regular quarterly dividend will be paid together and both will be paid before the impact of the Company's 3-for-2 stock split, which also has a record date of October 15, 2008.
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company's exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 382 retail stores in 39 states.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995; All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors which may be beyond the Company's control. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
News releases and other information about The Buckle, Inc. can be found on the Internet at www.buckle.com.