Outdoor financials: Jarden initiates regular quarterly dividend, plus Cabela's
Jarden Corp. declared a regular quarterly dividend of $0.075 for the first time in its history, and Cabela's said JPMorgan Chase Bank has renewed a $350 million credit line as part of Cabela's Credit Card Master Note Trust.
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Jarden initiates regular quarterly dividend
Jarden Corp. (NYSE: JAH) declared a regular quarterly dividend of $0.075 for the first time in its history.
Chairman and CEO Martin Franklin said in a statement that the dividend shows the board’s confidence in the company’s “long-term growth strategy and strong commitment to continuing to create shareholder value.”
The company, whose brands include Marmot, Coleman and K2, among others, will pay the dividend on Oct. 30 to shareholders of record Oct. 1.
Cabela’s renews $350 million in funding facility
Cabela’s (NYSE: CAB) said JPMorgan Chase Bank has renewed a $350 million credit line as part of Cabela’s Credit Card Master Note Trust. The commitment is for one year.
Joe Friebe, president and CEO of World’s Foremost Bank, a Cabela’s unit, said in a statement, “We expect this renewal to provide sufficient liquidity for World’s Foremost Bank through the third quarter of 2010.”
World’s Foremost Bank manages and administers credit card business.
–Compiled by Wendy Geister
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