How a capital-return signal reprices Ethan Allen after hours Press release special cash dividend balance sheet reaffirmed 4:15 PM ET - Aug 19 - ETD Investors reprice ETD for higher expected total return yield high - fwd multiple low higher expected return Coverage gate ~100% of FCF FCF in FCF covers payout revenue slide shallow covered breach: payout > FCF director nominations +3.65% after-hours bid - signal holds one fundamental of 11 after-market movers Dividend cut 24-yr streak breaks signal fails Activist pressure board challenge forces new strategy