Cracker Barrel asks shareholders for 'no' vote on $20 special dividend

Cracker Barrel (CBRL -0.3%) sends a letter to shareholders urging them to vote against a $20 per share special dividend proposed by Biglari Holdings due to the increased leverage position the payout would put the restaurant operator in.

The company also asks for support of its slate of candidates for the board which have also been backed by several proxy advisory firms.

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