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SHOO - Steven Madden boost liquidity suspends dividend and buyback
Steven Madden Ltd.
Steven Madden (SHOO-4.1%) suspends quarterly cash dividend. and buyback.
Draws $30M from credit facility.
Furloughs a significant number of our employees.
The company has significantly scaled back non-essential operating expenses, capital expenditures, and planned inventory receipts.
Edward Rosenfeld, Chairman and CEO will not receive salary, while President, CFO, COO, and CMO salary will be reduced by 30%, board to suspend cash compensation.
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