BOOM! Nicholas Financial Declares Special $2 Per Share Dividend

Impressive. After the close today, Nicholas Financial ($NICK) declared a special $2 per share dividend. Going by NICK’s close today, that’s a 15% return.

CLEARWATER, Fla., Dec. 11, 2012 — Nicholas Financial, Inc. (NICK) announced today that its Board of Directors has declared a special cash dividend of $2.00 per share on its common stock to be paid on December 28, 2012 to shareholders of record as of December 21, 2012.

Peter L. Vosotas, Chairman and CEO noted, “Today’s announcement of a $2.00 special cash dividend, to be paid before the end of the calendar year, is our effort to return capital to our shareholders in the most tax efficient manner as possible. Our strong balance sheet and favorable access to the credit markets allow us to provide shareholders with this dividend while maintaining our conservative capital structure. The payment is in addition to our $0.12 cent quarterly dividend paid on December 6. Based on the decision to pay this special dividend, the company may elect to forego future dividends.

Although NICK’s HQ is in Florida, it’s actually a Canadian company so the dividend will be subject to foreign tax rules (please consult your advisor on these matters).

Posted by on December 11th, 2012 at 5:26 pm

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