Brief: Stanley furniture - Board of Directors intends to issue 2 special dividends totaling up to $1.50 per share

HG Holdings

02/08/2016 21:30

Aug 2 (Reuters) - Stanley Furniture Company Inc  STLY.O  
    * Board of directors intends to issue two special dividends 
totaling up to $1.50 per share, representing $22.1 million in 
aggregate 
    * Additional special dividend of $0.25 per share is expected 
to be declared once company has obtained a revolving credit 
facility 
    * Declared an initial special dividend of $1.25 per share 
payable on august 19, 2016 
    * As a part of ongoing strategic review, board decided to 
distribute cash in excess of what is needed to execute business 
plan to shareholders 
 
Source text for Eikon:  ID:nGNXMZEKVa  
Further company coverage:  STLY.O  
 
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