Dillard’s Stock Gains In Premarket As Traders, Retail Cheer ‘Massive’ $25/Share Special Dividend
By Stocktwits Inc | First Published Nov 22, 2024, 6:31 PM ISTDillard’s management said rewarding shareholders is important for the company as the majority of its shareholders are also its associates.
Shares of Little Rock, Arkansas-based Dillard’s Inc. ($DDS) climbed in Friday's premarket-session as the department store chain announced a bumper special dividend.
Dillard’s said in a statement that its board has declared a special dividend of $25 per share on the Class A and Class B shares of the company. The dividend is to be paid on Jan. 6, 2025, to shareholders of record as on Dec. 13, 2024.
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"We are pleased to announce a $25.00 special dividend today, the largest in Dillard’s history," said Dillard’s CEO William Dillard and President Alex Dillard in a joint statement.
"Rewarding shareholders is important to us, particularly because the majority of our shareholders are also our associates. Their exceptional efforts and our loyal customers have helped make today’s announcement possible."
Also, the board declared a quarterly cash dividend of $0.25 per share on the Class A and Class B shares, payable on Feb. 3, 2025, to shareholders of record as of Dec. 31, 2024.
Last week, the retailer reported a double-beat for the third quarter, sending its shares higher by 11.5%. The stock is up 7.7% for the year-to-date period.
Retail sentiment toward the stock was ‘extremely bullish’ (95/100), with message volume improving to ‘extremely high.’
Dillard’s is a retailer of fashion apparel, cosmetics, home furnishings and other consumer goods. It also runs a general contraction construction company called CDI contractors.
As of Feb. 3, 2024, the company operated 273 stores in 29 states totaling approximately 46.7 million square feet.
Dillard’s stock rose 1.58% to $440.90 as of 4:40 am ET in premarket trading.
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