Winmark Corporation Announces Special Cash Dividend

MINNEAPOLIS - February 04, 2014 - (BUSINESS WIRE) - Winmark Corporation (Nasdaq:WINA) announced today that its Board of Directors has approved the payment of a special dividend to shareholders. The special dividend of $5.00 per share will be paid on March 3, 2014 to shareholders of record on the close of business on February 17, 2014. The total amount of the special dividend payment will be approximately $25.7 million based on the current number of shares outstanding. Future dividends will be subject to Board approval.

"Our second special dividend in the past two years reflects the strong cash flow created by both our franchising business and leasing business. Our continued philosophy is to manage the company in a manner whereby shareholder and management interests are aligned."

It is anticipated that Winmark will use a combination of cash on hand as well as bank borrowings to finance the special dividend. John L. Morgan, Chairman and Chief Executive Officer, stated "Our second special dividend in the past two years reflects the strong cash flow created by both our franchising business and leasing business. Our continued philosophy is to manage the company in a manner whereby shareholder and management interests are aligned."

About Winmark Corporation

Winmark Corporation creates, supports and finances business. At December 28, 2013, there were 1,005 franchises in operation under the brands Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Music Go Round® and Style Encore®. An additional 112 retail franchises have been awarded but are not open. In addition, at September 28, 2013, the Company had a lease portfolio of $36.7 million.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), relating to future events or the future financial performance of the Company including statements with respect to our ability to finance the growth of our leasing and franchising businesses and the payment of cash dividends for the foreseeable future. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statement.

Contact:

Brett D. Heffes
Winmark Corporation
763-520-8500

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

HYPOXI
Operated in studios across the globe, HYPOXI is proven not only to be an effective weight loss solution for men and women, but is also a popular...
Nestle Toll House Cafe by Chip
Nestlé Toll House Café by Chip is the only major, national dessert café that features top-quality branded cookies, baked goods, coffee, ice cream...
Tutor Doctor
Tutor Doctor is revolutionizing the private tutoring industry by helping children achieve their academic goals utilizing a one-to-one tutoring...
American Family Care
The demand for health care services increases every year. People want and need access to health care on their terms - which usually means immediately!
Wayback Burgers
Wayback Burgers is strategically poised to grow dynamically. This could be your opportunity to partner with a leader in a rapidly growing food market...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)