Stein Mart (SMRT) Surges After $5.00/Share Special Dividend; 35.2% Yield

Stein Mart (NASDAQ: SMRT) is jumping higher after-hours after the declared a special dividend of $5.00 per share. The dividend will be payable on February 27, 2015, to stockholders of record on February 13, 2015.

The annual yield on the dividend is 35.2 percent.

he aggregate amount of payment to be made in connection with this special dividend will be approximately $230 million. The special dividend will be funded by existing cash and the new $275 million credit facilities.

For a dividend history and other dividend-related data on Stein Mart (SMRT) click here.

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