Rocky Brands Initiates Cash Dividend
NELSONVILLE, Ohio -- May 09, 2013
Rocky Brands, Inc. (Nasdaq: RCKY) today announced that its board of directors
has adopted a dividend policy under which the Company intends to pay an annual
cash dividend of $0.40 per share on its common stock. Also today, the board of
directors declared the Company’s first quarterly dividend of $0.10 per share
of outstanding common stock which will be paid on June 11, 2013 to all
shareholders of record as of the close of business on May 28, 2013.
David Sharp, President and Chief Executive Officer, commented, “The board’s
decision to initiate a quarterly dividend reflects the board’s confidence in
Rocky Brands’ growth prospects, successful debt reduction, solid balance
sheet, and future cash flow generation. We're pleased to enhance shareholder
value by returning a portion of our earnings to our shareholders, without
compromising our ability to maintain a strong balance sheet and to pursue the
growth of the business.”
The declaration and payment of future dividends and the establishment of
future record dates and payment dates are subject to the quarterly
determination of the board of directors and that doing so is in the best
interests of the Company’s shareholders.
About Rocky Brands, Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium
quality footwear and apparel marketed under a portfolio of well recognized
brand names including Rocky®, Georgia Boot®, Durango®, Lehigh®, and the
licensed brands Michelin® and Mossy Oak®.
Safe Harbor Language
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbors created thereby. Those statements include,
but may not be limited to, all statements regarding intent, beliefs,
expectations, projections, forecasts, and plans of the Company and its
management. These forward-looking statements involve numerous risks and
uncertainties, including, without limitation, the various risks inherent in
the Company’s business as set forth in periodic reports filed with the
Securities and Exchange Commission, including the Company’s annual report on
Form 10-K for the year ended December 31, 2012 (filed March 4, 2013 and
amended on March 5, 2013) and quarterly report on Form 10-Q for the quarter
ended March 31, 2013 (filed April 25, 2013). One or more of these factors have
affected historical results, and could in the future affect the Company’s
businesses and financial results in future periods and could cause actual
results to differ materially from plans and projections. Therefore there can
be no assurance that the forward-looking statements included in this press
release will prove to be accurate. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the Company, or
any other person should not regard the inclusion of such information as a
representation that the objectives and plans of the Company will be achieved.
All forward-looking statements made in this press release are based on
information presently available to the management of the Company. The Company
assumes no obligation to update any forward-looking statements.
Rocky Brands, Inc.
Jim McDonald, 740-753-1951
Chief Financial Officer
Brendon Frey, 203-682-8200
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