An announcement from Aaron’s Company (AAN) is now available.
The Aaron’s Company, Inc. has amended its credit and loan facility agreements, reducing its Revolving Facility Commitments from $375 million to $275 million and adjusting the Fixed Charge Coverage Ratio to lower required minimum thresholds through Q4 2027. Additionally, the company has declared a quarterly cash dividend of $0.125 per share, to be paid in April 2024 to shareholders on record as of mid-March. In a move to better align executive compensation with company performance, the Compensation Committee has slashed total target direct compensation for top executives, including a 17% cut for CEO Douglas A. Lindsay, and an 8% cut for President Stephen Olsen and CFO C. Kelly Wall, shifting towards performance-based incentives.
See more data about AAN stock on TipRanks’ Stock Analysis page.
