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Dillard’s Spends Over $2.25M on Stephens Insurance, Media Buys in Fiscal 2015

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Dillard’s Inc. of Little Rock spent more than $2.25 million with companies associated with Warren Stephens in its fiscal 2015.

The Little Rock retailer has to disclose business dealings with its directors, which Stephens has been since 2002. Stephens is the chairman, CEO and president of Stephens Inc. of Little Rock.

In the company’s annual proxy statement released last week, Dillard’s said it spent $133,000 on adverting fees with Stephens Media LLC, where Stephens owned 50 percent. That represented only a few weeks of advertising; in March 2015, Stephens and his cousins, Witt Stephens Jr. and Elizabeth Stephens Campbell, sold Stephens Media for $102.5 million to the GateHouse newspaper chain.

Dillard’s also reported that Northwest Arkansas Newspapers LLC received $210,000 in 2015, down from $235,000 the previous year. Stephens owns more than 10 percent of Northwest Arkansas Newspapers.

Also during the year, Stephens Insurance LLC received commissions from third parties of approximately $1.9 million for the sale of insurance policies to Dillard’s employees. Nearly $100,000 of that amount was commissions on premiums that Dillard’s paid for employee insurance programs. Warren Stephens owns Stephens Insurance.

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