Blyth, Inc. (NYSE:BTH) recently announced it will be declaring a special cash dividend of $1.00 per common stock share for a total dividend payment of approximately $8.3 million.
The special dividend is an addition to the regular dividends that are declared semi-annually and which are paid during the fiscal year ending January 31, 2011. It will total $.0.20 per share of the company’s common stock. The company also announced that the dividends to be declared for fiscal year ending January 31, 2011 will total $2.20 per share or an estimate of $18.8 million.
In January of this year, the company already a special dividend amounting to $1.00 per share which it paid in February.
Blyth, Inc. is a Home Expressions company that is responsible for marketing a wide array of home fragrance products, seasonal decorations, decorative accessories, and household convenience items. Its products are directly sold under the brands PartyLite®, Two Sisters Gourmet® by PartyLite and ViSalus Sciences®, Colonial Candle®, CBK® and Seasons of Cannon Falls®, As We Change®, Miles Kimball®, Exposures®, Walter Drake®, The Home Marketplace®, Easy Comforts® and Boca Java®, Sterno®, Ambria® and HandyFuel®.
According to Robert B. Goergen, Blyth’s Chairman of the Board and Chief Executive Officer, “We take a conservative approach to our regular dividend payments given the seasonal nature of our business in spite of our strong cash position and balance sheet. We have now examined our dividend payment based on Blyth’s cash flow and general economic conditions. The Board of Directors believes dividends represent an important element in support of our goal to deliver long-term returns to our shareholders.”
The special dividend will be payable to shareholders of record as of December 1, 2010 and will be paid on December 15, 2010
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