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Kontoor Brands Declares Quarterly Dividend of $0.48 Per Share, a 4 Percent Increase
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Kontoor Brands, Inc. (NYSE: KTB) has declared a quarterly cash dividend of $0.48 per share, marking an increase of $0.02 or 4%. This dividend will be payable on December 19, 2022, to shareholders of record by the close of business on December 9, 2022. The Board's decision reflects confidence in the company's robust cash generation, enabling ongoing investments in strategic growth initiatives while ensuring solid cash returns to shareholders.
Positive
Dividend increase of $0.02 (4%) signals confidence in cash generation models.
Management's commitment to strategic growth initiatives while ensuring shareholder returns.
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 $0.48 per share of its common stock, an increase of $0.02 or 4 percent. The cash dividend will be payable on December 19, 2022, to shareholders of record at the close of business on December 9, 2022.
"Given our strong cash generating model, even during challenging macroeconomic conditions, we are announcing an increase to our quarterly dividend. This increase reflects management and the Board of Directors’ confidence in our resilient operating model, which allows us to continue to invest in key strategic growth initiatives, 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.