Carter’s, Inc. Announces Quarterly Dividend and Recommencement of Share Repurchase Program

Rhea-AI Summary

Carter’s, Inc. (NYSE:CRI) has declared a quarterly dividend of $0.40 per share payable on September 17, 2021 to shareholders of record by August 31, 2021. The Board's future dividend declarations will depend on various factors, including the company’s financial performance.

Additionally, the company has reinstated its share repurchase program, now with approximately $650.4 million remaining. These repurchases, previously suspended due to COVID-19, will occur based on market conditions and management's discretion.

Positive

• Declared a quarterly dividend of $0.40 per share, indicating a commitment to returning value to shareholders.
• Reinstated share repurchase program with $650.4 million in authorized capacity, potentially enhancing shareholder value and EPS.

Negative

• None.

The Board of Directors of Carter’s, Inc. (NYSE:CRI) today declared a quarterly dividend of $0.40 per share, payable on September 17, 2021, to shareholders of record at the close of business on August 31, 2021. Future declarations of quarterly dividends and the establishment of future record and payment dates will be at the discretion of the Board based on a number of factors, including restrictions under the Company’s revolving credit facility, business conditions, the Company’s financial performance, and other considerations.

In addition, the Board of Directors has reinstated the Company’s previously suspended share repurchase program. As of August 19, 2021, total remaining capacity under outstanding repurchase authorizations is approximately $650.4 million. Such purchases may be made in the open market or in privately negotiated transactions, with the level and timing of activity being at the discretion of the Company’s management subject to restrictions under the Company’s revolving credit facility, market conditions, stock price, other investment priorities, and other factors. These share repurchase authorizations have no expiration date. The Company had previously announced the suspension of the common stock share repurchase program in connection with the COVID-19 pandemic.

About Carter’s, Inc.

Carter’s, Inc. is the largest branded marketer in North America of apparel exclusively for babies and young children. The Company owns the Carter’s and OshKosh B’gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally. They are also sold through more than 1,000 Company-operated stores in the United States, Canada, and Mexico and online at www.carters.com, www.oshkosh.com, www.cartersoshkosh.ca, and www.carters.com.mx. The Company’s Child of Mine brand is available at Walmart, its Just One You brand is available at Target, and its Simple Joys brand is available on Amazon. The Company also owns Skip Hop, a global lifestyle brand for families with young children. Carter’s is headquartered in Atlanta, Georgia. Additional information may be found at www.carters.com.

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FAQ

What is the dividend declared by Carter’s, Inc. for Q3 2021?

Carter’s, Inc. declared a quarterly dividend of $0.40 per share, payable on September 17, 2021.

When is the record date for the dividend payment?

The record date for the dividend payment is August 31, 2021.

What is the remaining capacity for share repurchase by Carter’s, Inc.?

As of August 19, 2021, the remaining capacity under the share repurchase authorization is approximately $650.4 million.

Why was the share repurchase program suspended previously?

The share repurchase program was suspended due to the COVID-19 pandemic.

What factors influence future dividend declarations by Carter’s, Inc.?

Future dividend declarations are influenced by business conditions, financial performance, and restrictions under the company's revolving credit facility.