NEW BERLIN, Wis.--(BUSINESS WIRE)--FIRSTIME DESIGN LIMITED (FTDL) announced that its Board of Directors has approved a special cash dividend of $0.15 per share on its common stock, payable on July 29, 2016 to shareholders of record at the close of business on July 15, 2016.
“We are delighted to pay this special cash dividend to our valued shareholders and to provide them with added liquidity for their investment,” said Christopher D. Bering, Chief Executive Officer. “In determining the amount of the dividend, the Board of Directors sought to ensure that the company maintained sufficient capital for growth and operational needs in a challenging retail environment. Equally as important, the cash balance allows the company to continue to explore growth opportunities in an effort to maximize returns for our shareholders on legacy tax loss carryforwards,” said Mr. Bering.
About FirsTime Design Limited
FirsTime Design Limited, through its subsidiary, FirsTime Manufactory, Inc., is an industry leading designer, marketer and distributor of decorative timepieces, thermometers and other home décor products sold at major-national retailers. More information can be found at: www.firstimeonline.com or http://www.otcmarkets.com/stock/FTDL/quote.