Business
European Wax Center, Inc. Announces Special Cash Dividend
PLANO, Texas, April 11, 2022 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ:EWCZ), the largest and fastest-growing franchisor and operator of
About this update from European Wax Center, Inc.
[{"type":"text","content":"PLANO, Texas, April 11, 2022 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ:EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, today announced that its Board of Directors has declared a special cash dividend of $3.30 per share to holders of Class A common stock and equivalent payments to unit holders of EWC Ventures, LLC funded in part by its completed whole business securitization, which included $400 million of senior fixed-rate term notes. David Berg, Chief Executive Officer of European Wax Center Inc., stated: “Today’s transaction underscores the strength of our business, including the recurring nature of our service model that generates strong free cash flow with an asset-light balance sheet. We are in a unique position to continue to fuel our growth while also identifying opportunities to return capital to all European Wax Center shareholders. Going forward, we will continue to optimize our balance sheet to unlock value embedded within the business.” The special cash dividend will be paid on May 6, 2022 to shareholders of record as of April 22, 2022. The ex-dividend date will be April 21, 2022. Shareholders who sell their shares prior to the April 21, 2022 ex-dividend date will also be selling their right to receive the special dividend. Additional details can be found in the Company’s Form 8-K filed with the Securities and Exchange Commission on April 11, 2022. About European Wax Center European Wax Center, Inc. (NASDAQ: EWCZ) is the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. European Wax Center, Inc. continues to revolutionize the waxing industry with its innovative Comfort Wax formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience. Delivering a 360-degree guest experience, it also offers a collection of proprietary products to help enhance and extend waxing results. Founded in 2004, European Wax Center, Inc. is headquartered in Plano, Texas. Its network includes 853 centers in 44 states as of December 25, 2021. For more information, including how to recei...