JACKSONVILLE, Fla., Feb. 11, 2015 (GLOBE NEWSWIRE) -- On February 4, 2015 Stein Mart, Inc. (Nasdaq:SMRT) announced that its Board of Directors declared a special dividend of $5.00 per common share, payable on February 27, 2015 to shareholders of record as of the close of business on February 13, 2015.
The ex-dividend date for this dividend is March 2, 2015. For special dividends of greater than 25 percent of the price of the stock, the ex-dividend date is the first business day following the dividend payment date. On the ex-dividend date, the stock will begin trading without the right to receive the cash dividend and the stock price will be adjusted accordingly. Shares sold after the record date but before the ex-dividend date will include a book entry (sometimes called a "due bill") denoting that the dividend credited to your account must be turned over to the buyer. Shares purchased during this period will receive the dividend via this process.
About Stein Mart
Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store, at prices competitive with off-price retail chains. With locations from California to Massachusetts, as well as steinmart.com, Stein Mart's focused assortment of merchandise features current season, moderate to better fashion apparel for women and men, as well as accessories, shoes and home fashions. In 2014, Stein Mart was voted America's "Best Department Store" by the readers of USA TODAY.
Additional information about Stein Mart, Inc. can be found at www.steinmart.com
CONTACT: Linda Tasseff Director, Investor Relations (904) 858-2639 email@example.com
Source:Stein Mart, Inc.