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Get a 9.6% Special Dividend from this Retailer

The Buckle, Inc. (NYSE: BKE) announced that at a meeting of the Board of Directors, held on November 5, 2012, the Board authorized a $4.50 per share special cash dividend to be paid to shareholders of record at the close of business on December 7, 2012.

The Board also authorized a $0.20 per share quarterly dividend to be paid to shareholders of record at the close of business on December 7, 2012. The $0.20 per share quarterly dividend accelerates and replaces the regular quarterly dividend that has historically been paid in January.

Both the special cash dividend and the regular quarterly dividend are payable on December 21, 2012 and will be paid together.

The combined special and regular dividends are a dividend yield of 9.6%.

Buckle Inc. is a retailer of moderate to better-priced casual apparel, footwear and accessories for fashion-conscious men and women between the ages of 15 and 30, with the “sweet spot” being college students and recent college graduates.  About 40% of the company’s merchandise mix is men’s and the remaining 60% women’s.

BKE is known as a denim destination; the company carries more than 1,000 denim styles from over 20 leading brand names, including Buffalo, 7 For All Mankind, Diesel, GStar RAW and Buffalo, as well as its own private label brands such as BKE, ReClaim, Buckle Black and Daytrip.

The company operated 439 stores in 43 states as of August 30, 2012. Stores average about 5,000 square feet, with individual store inventories tailored to reflect climate and seasonal differences, as well as historical sales data. In FY 12 (Jan.), average sales per store were $2.3 million and average sales per square foot were $462, up 8.5% and 7.9% from FY 11, respectively.

The Buckle has an equity summary score of 7.3 out of 10 for a Bullish outlook.  The Buckle has a 12-month price target of 52.

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