Cherokee Shares Tank on Sneaky Dividend Cut
January 31, 2011 at 12:14 PM EST
Cherokee Inc. (CHKE) announced a new chairman today, and used the opportunity to sneak news of a 47% dividend cut onto the seventh paragraph of the press release. Shares still plummeted. The clothing brand company declared a quarterly dividend of $0.20 per share, a sharp 47% reduction from the $0.38 per share paid each of [...]