Circuit City Issues Four-Cent-Per-Share Dividend
Circuit City on Friday announced the declaration of a quarterly dividend of four cents per share of its common stock. The dividend will be issued July 15, for all shareholders of record as of June 29. Circuit City had earlier issued a four-cent-per-share dividend on March 15.
The company has had a tumultuous year so far. Following store closings and a management shakeup in February, announced a massive restructuring in March that included more than 3,500 layoffs and the selling off of its Canadian stores. Then, in early June, Circuit City said that they were both laying off 200 workers from their corporate headquarters, and also announced plans to open 165 new stores over the next two years.
Circuit City also drew more positive headlines last month when an employee at one of their stores in Southern New Jersey, Brian Morgenstern, blew the whistle on a terror plot after viewing a suspicious videotape and notifying authorities.