Kirkland's (KIRK) Declares $1.50 Special Dividend; 6% Yield

Kirkland's (NASDAQ: KIRK) declared a special dividend of $1.50 per share.

The dividend will be payable on June 19, 2015, to stockholders of record on June 5, 2015.

The annual yield on the dividend is 6 percent.

"The Board's decision to pay a special dividend reflects our strong balance sheet and commitment to deploy to stockholders a portion of the cash that we have generated over the last several years," said Mike Madden, Kirkland's President and Chief Executive Officer. "Since 2011, we have also retired almost 4 million shares of our common stock under repurchase programs, which on a net basis reduced our diluted share count by approximately 15 percent. The current repurchase program and special dividend underscore our confidence in our ability to generate sufficient cash to execute on growth initiatives. The special dividend will be funded with existing cash, and we have ample liquidity to continue to invest in our business, which remains our first priority."

For a dividend history and other dividend-related data on Kirkland's (KIRK) click here.

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