Tandy Leather Factory, Inc. Clarifies Ex-Dividend Date for Special Dividend

Rhea-AI Summary

Tandy Leather Factory (Nasdaq: TLF) has announced a special cash dividend of $1.50 per share of common stock. The dividend will be paid on February 18, 2025, with an ex-dividend date of February 19, 2025. The ex-dividend date was set according to Nasdaq UPC Rule 11140, as the dividend amount exceeds 25% of the company's current stock price.

The company operates as a specialty retailer of leather and related products, with 99 North American stores across 40 US states and six Canadian provinces, plus one store in Spain. Two stores are temporarily closed for relocation. Their product line includes leatherworking tools, buckles, leather dyes, saddle hardware, and DIY kits.

Positive

• Special cash dividend of $1.50 per share announced
• Extensive retail presence with 99 North American stores and 1 in Spain
• Broad geographic coverage across 40 US states and 6 Canadian provinces

Negative

• Two stores temporarily closed for relocation

FORT WORTH, Texas, Jan. 31, 2025 (GLOBE NEWSWIRE) -- On January 29, 2025, Tandy Leather Factory, Inc. (the “Company”, Nasdaq: TLF) announced that its Board of Directors had declared the payment of a special cash dividend to its stockholders of $1.50 per share of common stock held. The dividend will be paid on or about February 18, 2025.

Because the dividend amount is more than 25% of the current market price of the Company’s common stock, the ex-dividend date will be February 19, 2025, in accordance with Nasdaq UPC Rule 11140. On that date, the Company’s common stock will begin trading without the right to receive the special dividend, and the price will be adjusted accordingly.

Tandy Leather Factory, Inc. (http://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer of a broad product line, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 99 North American stores (including two temporarily closed for relocation) located in 40 US states and six Canadian provinces, and one store located in Spain. Its common stock trades on the Nasdaq Capital Market under the symbol “TLF”. To be included on Tandy Leather Factory's email distribution list, go to: http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.

Contact: Jeff Gramm, Tandy Leather Factory, Inc.  (817) 872-3200 or jeff@banderapartners.com

This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

When will TLF pay its special dividend of $1.50 per share?

Tandy Leather Factory will pay the special dividend of $1.50 per share on February 18, 2025.

What is the ex-dividend date for TLF's special dividend?

The ex-dividend date for TLF's special dividend is February 19, 2025, when the stock will begin trading without the right to receive the dividend.

Why was TLF's ex-dividend date set after the payment date?

The ex-dividend date was set after the payment date because the dividend amount exceeds 25% of the current market price, following Nasdaq UPC Rule 11140.

How many retail stores does TLF operate as of January 2025?

TLF operates 100 stores in total: 99 in North America (with two temporarily closed for relocation) and one store in Spain.

What is the geographic distribution of TLF stores?

TLF stores are located across 40 US states, six Canadian provinces, and one location in Spain.