Dillard’s, Inc. Announces New $500 Million Share Repurchase Program and Declares $0.20 Cash Dividend

Rhea-AI Summary

Dillard’s, Inc. (NYSE:DDS) has authorized a new share repurchase program to buy back up to $500 million of its Class A Common Stock. This program is designed to enhance shareholder value and can be executed in the open market or through negotiated transactions. Additionally, the Board declared a cash dividend of $0.20 per share on both Class A and B Common Stock, marking the 212th consecutive quarterly dividend since its public listing in 1969. The dividend will be payable on May 2, 2022, to shareholders of record as of March 31, 2022.

Positive

• Authorization of a $500 million share repurchase program enhances shareholder value.
• Consistent dividend payment reflects financial stability and reliability.

Negative

• None.

LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Dillard’s, Inc. (NYSE:DDS) (the “Company” or “Dillard’s”) announced that the Board of Directors has approved a new share repurchase program authorizing the Company to repurchase up to $500 million of its Class A Common Stock. The new open-ended authorization permits the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 or through privately negotiated transactions.

The Board of Directors also declared a cash dividend of $0.20 per share on the Class A and Class B Common Stock of the Company payable May 2, 2022 to shareholders of record as of March 31, 2022. This marks the Company’s 212th consecutive quarterly dividend since becoming a public company in 1969.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224006089/en/

Julie J. Guymon, C.P.A.

501-376-5965

julie.bull@dillards.com

Source: Dillard’s, Inc.

FAQ

What is Dillard's share repurchase program amount?

Dillard's has authorized a share repurchase program for up to $500 million.

When will Dillard's pay the declared dividend?

The dividend will be payable on May 2, 2022.

How long has Dillard's been paying dividends?

Dillard's has paid dividends for 212 consecutive quarters since becoming public in 1969.

What amount is the dividend declared by Dillard's?

The declared dividend is $0.20 per share for both Class A and Class B Common Stock.

What is the purpose of the share repurchase program?

The share repurchase program aims to enhance shareholder value.