Arden Group (ARDNA) Approves Special Cash Dividend
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Arden Group, Inc. (Nasdaq: ARDNA) announced that on November 3, 2008, its Board of Directors declared a special cash dividend of twenty-five dollars ($25) per share on its Class A Common Stock. The special cash dividend will be paid on December 8, 2008 to stockholders of record at the close of business on November 20, 2008. The special cash dividend will total $79,027,450.
Bernard Briskin, Chief Executive Officer and Chairman of the Board, stated, "The Board of Directors of Arden Group, Inc. concluded that in view of the Company's strong financial position, including its cash, marketable securities and positive cash flow, Arden would have adequate funds after the special dividend to meet current capital requirements."[SM]
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