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Winmark Corporation (NASDAQ:WINA), a $1.26 billion market cap company trading at a P/E ratio of 30.55, held its Annual Shareholders meeting on Monday, where several key decisions were made regarding the company’s governance and oversight. According to InvestingPro analysis, the company currently trades above its Fair Value, despite maintaining dividend payments for 16 consecutive years. The retail franchise operator, headquartered in Minneapolis, Minnesota, saw its shareholders set the board of directors at seven members and re-elect all nominees.
The shareholders voted overwhelmingly in favor of setting the number of board members, with 3,213,603 votes for, 4,585 against, and 669 abstentions. The election of directors resulted in all seven nominees being elected, with Brett D. Heffes receiving the most votes for a director seat at 3,036,160.
An advisory vote to approve executive compensation also passed with a significant majority, with 2,925,625 votes for, 159,750 against, and 1,188 abstentions. Additionally, shareholders expressed their preference for an annual advisory vote on executive compensation, with 2,841,112 votes supporting the one-year frequency, compared to 31,578 for two years and 213,457 for three years.
In a ratification of corporate governance practices, the appointment of Grant Thornton, LLP as the independent registered public accounting firm for the 2025 fiscal year was approved with 3,196,007 votes for, 21,863 against, and 987 abstentions.
Following the meeting, the Board of Directors adopted a resolution to hold an advisory vote on executive compensation every year until the next required vote on the frequency of such votes.
The decisions made at the Annual Shareholders meeting underscore the company’s commitment to maintaining a structure that aligns with shareholder interests and regulatory standards. The information presented here is based on a press release statement from Winmark Corporation.
In other recent news, Winmark Corporation has announced an increase in its quarterly cash dividend to $0.96 per share, a rise of $0.06 from the previous rate. This dividend is set to be paid on June 2, 2025, to shareholders who are on record by May 14, 2025. This development highlights Winmark’s financial stability and its commitment to delivering value to its shareholders. The increase in dividends also indicates the company’s confidence in its ongoing performance and its ability to generate sufficient cash flow. This decision is part of Winmark’s regular review of its capital allocation strategy, with future dividend payments subject to approval by the Board of Directors. The company currently oversees 1,363 active franchises with an additional 79 awarded franchises yet to open, showcasing growth in its franchising business.
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