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The Buckle, Inc. Message Board

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  • tmcgee24 tmcgee24 Nov 7, 2012 11:31 AM Flag

    Special dividend

    How does this dividend compare to prior years as a percentage of cash on hand? Management may have increased the amount for the favorable tax rate at the expense of next year. Not a bad plan especially now that Obama has won.

    Sentiment: Strong Buy

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    • The special dividend at $4.50 is double last year's $2.25. BKE's $197 million cash position on July 28 likely has grown by about $40 million in the third quarter (we will know for sure on Nov. 15 third quarter earnings report), plus fourth quarter is off to a good start, with strong same-store sales, up 3.8 percent, for October. A $4.70 payout (including .20 regular divi) will cost about $211 million on 45 million shares outstanding. BKE can easily cover the special divi, no need to carry $300 million in cash on the books at year end, I suspect company will end the year with $80 million to $90 million cash on hand.

      Sentiment: Buy

 
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