Hancock Fabrics increases cash dividend

With cash flow and earnings both gaining strength, Hancock Fabrics Inc., a fabric chain headquartered in Tupelo, MS, has increased its quarterly cash dividend by 60 percent, to 4 cents a share from the previous rate of 2.5 cents a share.

Larry Kirk, ceo, said, "During 2000, Hancock Fabric's operating cash flow was sufficient to reduce debt by $15 million, repurchase treasury stock totaling $5.5 million, make capital expenditures of $4 million to upgrade our store base and pay cash dividends of $1.8 million. Given the company's strong financial position and the increased earnings and cash flow in the recently completed year, our board of directors felt that the higher cash dividend is an appropriate and prudent element in enhancing shareholder value."

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!