Key Developments For Weyco Group Inc
Weyco Group Inc (WEYS.O) (Nasdaq)
Weyco Group, Inc. Increases Dividend
Weyco Group, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share to all shareholders of record on June 1, 2009, payable on July 1, 2009. This represents an increase of 7% above the previous quarterly dividend rate of $.14.
Weyco Group, Inc. Declares Dividend; Authorizes Additional Stock Repurchase Program
Weyco Group, Inc. announced that its Board of Directors declared a cash dividend on February 2, 2009, of $.14 per share to all shareholders of record on March 2, 2009, payable April 1, 2009. The Company also announced that on February 23, 2009, its Board of Directors authorized the Company to repurchase up to an additional 1,000,000 shares of its common stock under its stock repurchase program, bringing the total available to purchase to approximately 1,500,000 shares.
Weyco Group, Inc. Acquires Majority Interest in Its Australia, Asia Pacific and South Africa Licensees
Weyco Group, Inc announced that it has entered into a series of transactions to acquire the majority interest in the licensees of its Florsheim, Stacy Adams and Nunn Bush branded shoes in the Australian, Asia Pacific and South African markets. Weyco invested in a new subsidiary, Florsheim Australia Pty Ltd (Florsheim Australia), to acquire the operating assets and certain liabilities related to the Florsheim business from Figgins Holdings Pty Ltd, the former Australia licensee, and to acquire the stock of Florsheim South Africa Pty Ltd and Florsheim Asia Pacific Ltd, the other licensees. David Venner, the former Chief Financial Officer of Figgins Holdings, will become the President of Florsheim Australia. The aggregate purchase price of these acquisitions was approximately U.S. $10 million. Total net sales for the combined businesses acquired were approximately U.S. $25 million for their fiscal year ended June 30, 2008, with the vast majority of sales under the Florsheim brand name. The acquisition includes both wholesale and retail businesses, with 24 Florsheim stores in Australia, one Florsheim store in New Zealand and one store in Macau
Weyco Group, Inc. Declares Quarterly Cash Dividend
Weyco Group, Inc. announced that its Board of Directors declared a quarterly cash dividend on April 29, 2008, of $.14 per share to all shareholders of record on June 2, 2008, payable July 1, 2008. This represents an increase of 27% above the previous quarterly dividend rate of $.11. The impact of this will be to increase cash dividends paid annually by approximately $1.4 million.
Weyco Group, Inc. Declares Dividend
Weyco Group, Inc. announced that it has declared a quarterly cash dividend on May 1, 2007 of $0.11 per share to all shareholders of record on June 1, 2007, payable July 2, 2007. This represents an increase of 22% above the previous quarterly dividend rate of $0.09.
