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Tandy Leather Factory Sets Ex-Dividend Date for Special Dividend
ByAinvest
Friday, Jan 31, 2025 9:00 am ET1min read
Tandy Leather Factory has clarified the ex-dividend date for its special dividend, which will be paid on or about February 18, 2025. The ex-dividend date will be February 19, 2025, due to the dividend amount being more than 25% of the current market price of the company's common stock. The dividend amount is $1.50 per share of common stock held.
Tandy Leather Factory, Inc. (TLF), a leading retailer of leather and leathercraft-related items, has recently clarified the ex-dividend date for its upcoming special dividend. The dividend, which amounts to $1.50 per share of common stock, will be paid on or about February 18, 2025 [1]. The ex-dividend date, however, will be February 19, 2025, due to the dividend being more than 25% of the current market price of TLF's common stock [1].Founded in 1980 and headquartered in Fort Worth, Texas, TLF operates in the consumer discretionary sector, specializing in retail [1]. The company's revenue for the year 2023 was $76.23 million, a decrease of 5.11% compared to the previous year [1]. Despite this decline, TLF managed to record earnings of $3.77 million, a significant increase of 207.09% [1].
Recent developments at TLF include the completion of the sale of its corporate headquarters facilities and the appointment of a new CEO [2][3]. These events have led to speculation regarding a potential special dividend distribution. According to an analysis by Seeking Alpha, TLF's recent $26.5 million headquarters sale could yield a $1.76 per share special dividend, offering a 38% return on the current $4.65 share price [4].
TLF's decision to distribute a special dividend comes at an opportune time, as the company's strong financial performance and significant ownership by management suggest a commitment to shareholder value [1][3][4]. This dividend, which is expected to be paid on or about February 18, 2025, will provide TLF shareholders with a welcome boost to their investment portfolios.
References:
[1] Tandy Leather Factory, Inc. Company Profile. stockanalysis.com. Retrieved January 31, 2025.
[2] Tandy Leather Factory, Inc. Announces Completion of HQ Sale and Lease of New Space. GlobeNewsWire. Retrieved January 31, 2025.
[3] Tandy Leather Factory, Inc. Appoints new CEO; Announces Board Changes. GlobeNewsWire. Retrieved January 31, 2025.
[4] Tandy Leather Factory Offers A Special Situation Trade. Seeking Alpha. Retrieved January 31, 2025.
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