Little Rock-based retailer Dillard’s, Inc. recently announced that its Board of Directors have declared a special dividend of $15.00 per share on the company’s Class A and Class B Common Stock. The dividend follows Dillard’s recent record financial performance.
Third quarter results showed strong sales combined with record gross margin and expense control produced $197 million of net income. The company ended the quarter in another strong cash position of $620 million after repurchasing $239 million of stock.
In a joint statement, Dillard’s Chief Executive Officer, William Dillard, II and company President Alex Dillard said, “We are extremely happy with the Board’s decision to grant this dividend, which is a special thanks to our shareholders – including our own associates and their families who own approximately 70 percent of our outstanding shares. They stuck with us through unprecedented times and have been instrumental in achieving our remarkable success this year. We are extremely proud of the exceptional work they continue to do and what we have accomplished together. It would not have been possible without the tremendous support of our dedicated team. Thank you.”
Those who are enrolled can expect a boost for their retirement package, as according to SEC filings, the company’s 401K plan includes about 41 percent of available Class A stock.
The special dividend of $15.00 per share is payable Dec. 15, 2021 to shareholders of record as of Nov. 29, 2021.
Dillard’s also announced that the Board of Directors declared a cash dividend of $0.20 per share on the Class A and Class B Common Stock of the Company. The dividend is payable Jan. 31, 2022 to shareholders of record as of Dec. 31, 2021.
Dillard’s stock has increased significantly year to date, by over 530 percent. It was trading above $370 at Monday’s market opening.