Winmark Corporation (WINA) will cut its quarterly dividend by 80.0 percent in 2020. Last year the company raised its quarterly dividend by 66.7 percent to $0.25 per share in 2019, marking the 9th consecutive year of dividend increases by the used merchandise retailer.

The next dividend will be paid June 1, 2020 to shareholders of record on the close of business on May 13, 2020. A new annual rate of $0.20 per share yields 0.1% at a stock price of $147.

Winmark Corporation is a franchisor of five retail store concepts that buy, sell and trade gently used merchandise and a limited amount of new merchandise to customers. The company's franchised retail brands are Plato's Closet, Once Upon A Child, Play It Again Sports, Style Encore and Music Go Round. Winmark operates franchised stores across the United States and Canada and also provides franchise consulting and advisory services through Winmark Franchise Partners. Also the company operates a middle-market equipment leasing business through our wholly owned subsidiary, Winmark Capital Corporation. Additionally, Winmark operates a small-ticket financing business through its wholly owned subsidiary, Wirth Business Credit, Inc.