Dillard's Declares Quarterly Dividend of 6 Cents

by Lance Turner  on Wednesday, May. 21, 2014 11:18 am  

Dillard’s Inc. of Little Rock on Wednesday reported a quarterly dividend of 6 cents.

The department store chain, which has said it will be returning more money to shareholders, declared the dividend on its class A and B common stock. The payment is up 20 percent from the 5 cents per share it reported in the same quarter last year.

The dividend is payable Aug. 4 to shareholders of record as of June 30.

Dillard's raised its quarterly dividend by a penny in August.

During its annual meeting on Saturday, CEO William Dillard II said the company had paid $1.7 billion to shareholders over the last five years and that the trend should continue.

"We think we're going to be in a position to continue to generate more funds for the business than we're going to reasonably invest, and [we] expect to return cash to the shareholders," Dillard said during the approximately five-minute annual shareholders' meeting at the company's Little Rock headquarters.

Dillard also touted its stock price hitting an all-time high on Friday, closing at $111, up 14.9 percent from Thursday's close.

On Wednesday, shares of Dillard’s (NYSE: DDS) were trading around $107.

 

 

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