Outdoor Channel Holdings is not a regular dividend payer, but its board of directors has announced a special distribution to shareholders. The one-time cash payout of 25 cents per share is pretty hefty for a stock selling for around $7 and the stock price went up Thursday (12/15) after the announcement.
The distribution will be payable on December 30th to stockholders of record on December 24th.
“Our strong financial condition gives us the opportunity to once again reward our stockholders for their ongoing support,” stated Roger Werner, President & CEO. “We continue to have a healthy balance sheet and believe this distribution is an appropriate use of our capital. In the coming year we are looking forward to increased investment in our franchise and its category leadership position.”
Outdoor Channel Holdings added that it expects the cash distribution will be classified as a qualified dividend under current tax rules.
