Kontoor Brands Declares Quarterly Dividend of $0.46 Per Share, a 15 Percent Increase

Rhea-AI Summary

Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.46 per share, representing a 15% increase from the previous amount. The dividend is set to be paid on December 20, 2021, to shareholders recorded by December 10, 2021. This decision highlights the company's commitment to returning value to shareholders while reflecting its strong cash generation and improved operational fundamentals. CEO Scott Baxter emphasized the importance of this increase as a part of the company's long-term strategic growth plans.

Positive

• Quarterly cash dividend increased by $0.06 to $0.46 per share, representing a 15% rise.
• Management's confidence in improving fundamentals and strong cash generation supports the dividend increase.

Negative

• None.

GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler^® and Lee^®, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.46 per share of its common stock, an increase of $0.06 or 15 percent. The cash dividend will be payable on December 20, 2021, to shareholders of record at the close of business on December 10, 2021.

"Consistent with our long-term TSR targeted at our recent Investor Day, we are announcing a meaningful increase to our quarterly dividend payment, reflecting management and the Board of Directors’ confidence in our improving fundamentals, operating model and strong cash generation. This powerful cash flow optionality allows us to continue to invest in key strategic growth initiatives and enablers, while also delivering superior cash returns to our shareholders," said Scott Baxter, Board Chair, Chief Executive Officer and President, Kontoor Brands.

About Kontoor Brands

Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands: Wrangler^® and Lee^®. Kontoor designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. For more information about Kontoor Brands, please visit www.KontoorBrands.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005849/en/

Investors:

Eric Tracy, (336) 332-5205

Vice President, Corporate Finance and Investor Relations

Eric.Tracy@kontoorbrands.com

or

Media:

Vanessa McCutchen, (336) 332-5612

Vice President, Corporate Communications

Vanessa.McCutchen@kontoorbrands.com

Source: Kontoor Brands, Inc.

FAQ

What is the dividend amount declared by Kontoor Brands (KTB)?

Kontoor Brands (KTB) has declared a quarterly cash dividend of $0.46 per share.

When is the dividend payment date for Kontoor Brands (KTB)?

The dividend payment date for Kontoor Brands (KTB) is December 20, 2021.

What percentage increase was announced for the dividend by Kontoor Brands (KTB)?

Kontoor Brands (KTB) announced a 15% increase in its quarterly dividend.

Who announced the dividend increase for Kontoor Brands (KTB)?

The dividend increase for Kontoor Brands (KTB) was announced by CEO Scott Baxter.