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Subsequent Events Subsequent Events
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6 Months Ended |
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Jun. 28, 2014
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Note 18 – Subsequent Events
On July 17, 2014, the Company entered into an agreement to sell its retail bowling business for $270 million, contingent upon customary closing procedures. In connection with its decision to sell its bowling centers, the Company announced in July 2014 its intention to divest its bowling products business. These businesses will be reported as discontinued operations beginning in the third quarter of 2014, as they did not meet the discontinued operations reporting criteria in the second quarter of 2014. Additionally, beginning in the third quarter of 2014, the historical and current results of the billiards business will be reflected in the Company's Fitness segment.
On July 22, 2014, the Board of Directors declared a quarterly dividend on its common stock of $0.125 per share. The dividend will be payable September 15, 2014 to shareholders of record on August 25, 2014.
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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