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 announced a new share repurchase program of up to $500 million of its Class A Common Stock. The program allows the company to repurchase its stock in the open market or through privately negotiated transactions. The Board of Directors has also declared a cash dividend of $0.20 per share on the Class A and Class B Common Stock, payable on July 31, 2023.

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 Company has completed the authorization remaining under its previous share repurchase program.

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 July 31, 2023 to shareholders of record as of June 30, 2023.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230520005037/en/

Julie J. Guymon

501-376-5965

julie.guymon@dillards.com

Source: Dillard’s, Inc.

FAQ

What is the new share repurchase program announced by Dillard's?

Dillard's has announced a new share repurchase program authorizing the company to repurchase up to $500 million of its Class A Common Stock.

How can Dillard's repurchase its stock?

Dillard's can repurchase its stock in the open market or through privately negotiated transactions.

What is the cash dividend declared by Dillard's?

Dillard's has declared a cash dividend of $0.20 per share on the Class A and Class B Common Stock.

When will the cash dividend be payable?

The cash dividend will be payable on July 31, 2023.

Who is eligible to receive the cash dividend?

Shareholders of record as of June 30, 2023, are eligible to receive the cash dividend.