Stage Stores cuts dividend by 66.7 percent
Stage Stores (SSI) will cut its quarterly dividend to $0.05 per share.
The reduced dividend is payable on June 14, 2017 to shareholders of record at the close of business on May 30, 2017.
“We plan to make strategic investments in the Gordmans business as well as our existing Stage business to increase store productivity, enhance our merchandise assortment and marketing programs, and drive growth in the Stage omnichannel business. We believe the dividend adjustment was the appropriate action as we reallocate resources to invest in our operations, increase liquidity, and create financial flexibility to support our long-term plans,” said Michael Glazer, President and Chief Executive Officer.
Stage Stores, Inc. operates specialty department stores mainly in small and mid-sized towns and communities. The Company's department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. SSI operates in 42 states through approximately 800 BEALLS, GOODY'S, PALAIS ROYAL, PEEBLES and STAGE specialty department stores and approximately 50 GORDMANS off-price stores.
The reduced dividend is payable on June 14, 2017 to shareholders of record at the close of business on May 30, 2017.
“We plan to make strategic investments in the Gordmans business as well as our existing Stage business to increase store productivity, enhance our merchandise assortment and marketing programs, and drive growth in the Stage omnichannel business. We believe the dividend adjustment was the appropriate action as we reallocate resources to invest in our operations, increase liquidity, and create financial flexibility to support our long-term plans,” said Michael Glazer, President and Chief Executive Officer.
Stage Stores, Inc. operates specialty department stores mainly in small and mid-sized towns and communities. The Company's department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. SSI operates in 42 states through approximately 800 BEALLS, GOODY'S, PALAIS ROYAL, PEEBLES and STAGE specialty department stores and approximately 50 GORDMANS off-price stores.
