Tractor Supply Company Declares Quarterly Dividend
Tractor Supply Company (NASDAQ: TSCO) declared a quarterly cash dividend of $0.35 per share, payable on June 9, 2020, to stockholders of record by May 26, 2020. The decision reflects the company’s strong balance sheet and operational cash generation, even amid the uncertainty caused by the COVID-19 pandemic. While the company has a history of increasing dividends, it opted to maintain the current dividend level this year for prudence. Tractor Supply continues to leverage its digital capabilities and physical stores, operating 1,863 locations across the U.S.
- Declared a quarterly cash dividend of $0.35 per share, indicating strong financial health.
- Has consistently increased dividends since 2009, showcasing a commitment to returning value to shareholders.
- Strong balance sheet and operational cash generation highlighting financial stability.
- Opted to maintain the dividend instead of increasing it, indicating caution due to COVID-19 uncertainty.
BRENTWOOD, Tenn., May 07, 2020 (GLOBE NEWSWIRE) -- Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today announced that its Board of Directors declared a quarterly cash dividend of
“With a strong balance sheet, substantive operating free cash generation and ample liquidity, we believe Tractor Supply is well positioned to meet the needs of the business, while continuing to pay a dividend. Since initiating our quarterly cash dividend in 2009, Tractor Supply has consistently increased the dividend each year. Given the uncertainty due to the COVID-19 pandemic, we believe it is prudent to maintain a consistent dividend, instead of raising it as we have historically done at this time. Looking ahead, we believe our resilient business model and our strong financial position will continue to serve us well,” said Cynthia Jamison, Tractor Supply’s Chairman of the Board.
The dividend will be paid on June 9, 2020, to stockholders of record of the Company’s common stock as of the close of business on May 26, 2020.
About Tractor Supply Company
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, as a one-stop shop for recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years. Tractor Supply offers an extensive mix of products necessary to care for home, land, pets and animals with a focus on product localization, exclusive brands and legendary customer service that addresses the needs of the Out Here lifestyle. With more than 33,000 team members, the Company leverages its physical store assets with digital capabilities to offer customers the convenience of purchasing products they need anytime, anywhere and any way they choose at the everyday low prices they deserve. At March 28, 2020, the Company operated 1,863 Tractor Supply stores in 49 states and an e-commerce website at www.TractorSupply.com.
Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services. At March 28, 2020, the Company operated 180 Petsense stores in 26 states. For more information on Petsense, visit www.Petsense.com.
Tractor Supply Company
Investor Contacts:
Mary Winn Pilkington (615) 440-4212
Marianne Denenberg (615) 440-4345
Forward-Looking Statements
Certain statements contained in this press release are not historical facts and are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by words such as “future,” “may,” “will,” “anticipate,” “positioned” or other comparable terminology. Such statements include, but are not limited to, statements about the Company’s expected growth, future success, strategy, plans, intentions or beliefs about future occurrences or results. Because such forward-looking statements contain risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. All of the forward-looking statements are also qualified by the cautionary statements contained in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
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