By  on April 10, 2017

The activist fight at Citi Trends Inc. has heated up as the retailer on Monday expanded its capital return program on the same day Macellum Capital Management mailed its definitive proxy and letter to shareholders.

The chain’s expanded capital program now includes a 33.3 percent increase in its quarterly dividend to 8 cents from 6 cents. It also includes a new share repurchase program of up to $25 million, a board decision to maintain a minimum cash balance of $80 million and a commitment to return excess cash to the retailer’s stockholders through additional dividends and buybacks.

To continue reading this article...

load comments
blog comments powered by Disqus