The Tile Shop Announces Initiation of Cash Dividend
February 14 2017 - 8:01AM
The Board of Directors of Tile Shop Holdings, Inc. (NASDAQ:TTS)
(the “Company”), a specialty retailer of manufactured and natural
stone tiles, setting and maintenance materials, and related
accessories, has authorized the initiation of a quarterly cash
dividend commencing in the first quarter of 2017, and declared an
initial dividend of $0.05 per common share, payable March 24, 2017
to stockholders of record as of the close of business on March 14,
2017.
“The initiation of a dividend to our
shareholders displays our confidence in The Tile Shop’s future
growth trajectory and free cash flow generation,” said Chris
Homeister, CEO. “We are in a unique position to begin accelerating
our store openings in 2017, continue investing to support our store
and distribution network to achieve significant long term growth
and begin returning capital to shareholders, all while maintaining
a minimal level of debt thanks to the competitive strength and
significant free cash flow generation of our business.”
About The Tile Shop
The Tile Shop is a leading specialty retailer of manufactured
and natural stone tiles, setting and maintenance materials, and
related accessories in the United States. The Company offers a wide
selection of high quality products, exclusive designs,
knowledgeable staff and exceptional customer service, in an
extensive showroom environment with up to 50 full-room tiled
displays which are enhanced by the complimentary Design Studio – a
collaborative platform to create customized 3D design renderings to
scale, allowing customers to bring their design ideas to life. The
Tile Shop currently operates 123 stores in 31 states and the
District of Columbia, with an average size of 21,100 square feet
and sells products online at www.tileshop.com.
The Tile Shop is a proud member of the American Society of
Interior Designers (ASID), National Association of Homebuilders
(NAHB), and the National Tile Contractors Association (NTCA). Visit
www.tileshop.com. Join The Tile Shop (#thetileshop) on Facebook,
Instagram, Pinterest and Twitter.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of
1995. Forward looking statements may be identified by the use
of words such as “anticipate”, “believe”, “expect”, “estimate”,
“plan”, “outlook”, and “project” and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward looking statements
include any statements regarding the Company’s strategic and
operational plan and expected financial performance (including the
financial performance of new stores). Forward looking statements
should not be read as a guarantee of future performance or results,
and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved. Forward
looking statements are based on information available at the time
those statements are made and/or management’s good faith belief as
of that time with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward looking statements, including but not limited to
unforeseen events that may affect the retail market or the
performance of the Company’s stores. The Company does not intend,
and undertakes no duty, to update this information to reflect
future events or circumstances. Investors are referred to the most
recent reports filed with the SEC by the Company.
Contacts:
Investors and Media:
Adam Hauser
763-852-2950
investorrelations@tileshop.com
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