Outdoor financials: Cabela's secures amendment to credit facility, plus Jarden
Cabela's said it has completed a second change to its revolving credit facility, and Jarden's board of directors declared a regular quarterly cash dividend of $0.075 per share of the company's common stock.
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Cabela’s secures amendment to credit facility
Cabela’s (NYSE: CAB) said it has completed a second change to its revolving credit facility that allows it to transfer up to $225 million of capital to its bank unit, World’s Foremost Bank, in 2010.
It also can now contribute $25 million in capital to the bank in any fiscal year. To secure the amendment, Cabela’s paid a fee of 50 basis points of the revolving commitment amount. The credit facility expires June 30, 2012.
The company announced earlier that it had decreased its revolving credit facility to $350 million from $430 million, noting that $350 million is adequate for its needs.
Jarden declares cash dividend
The board of directors of Jarden Corp. (NYSE: JAH) declared a regular quarterly cash dividend of $0.075 per share of the company’s common stock. It is payable on Jan. 29, 2010, to stockholders of record on Jan. 4, 2010.
Jarden’s outdoor portfolio includes Coleman, Campingaz, K2 Sports, Volkl, Marker, Ride, Atlas, Marmot and ExOfficio.
–Compiled by Wendy Geister
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