Cherokee to Pay Dividends

Cherokee Inc. will pay out a quarterly dividend of $0.38 to shareholders in March, a figure that equates to $1.52 per share annually, according to a company statement. The dividend will be payable on or about March 17 to those who held stock in the Van Nuys-based clothing brand management firm on March 1. “Over the past three years we have been fortunate to dividend our free cash flow, along with excess cash reserves, to our shareholders,” said Cherokee Chairman and CEO Robert Margolis. “Now that we have distributed much of our excess cash, we expect to continue our policy of returning cash to shareholders through dividends, but we expect the level will be commensurate with our earnings and free cash flow per share, while leaving us with comfortable cash balances.” Thom Senzee