by Lance Turner
Posted 5/21/2014 11:18 am
Updated 4 months ago
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.