Macy's (M) Declares $0.36 Quarterly Dividend; 3.4% Yield

Macy's (NYSE: M) declared a quarterly dividend of $0.36 per share, or $1.44 annualized.

The dividend will be payable on April 1, 2016, to stockholders of record on March 15, 2016, with an ex-dividend date of March 11, 2016.

The annual yield on the dividend is 3.4 percent.

July Dividend Increase

Macy’s, Inc.’s board also announced its intent to increase the quarterly dividend on Macy's common stock to 37.75 cents per share from the current 36 cents per share, effective with the July 1 dividend payment. The record date for the July dividend, which the board will set at a future time, is expected to be on or about June 15, 2016.

The July dividend will be the sixth increase in the past five years and represents a more than seven-fold increase from 5 cents per share in 2009 to 37.75 cents per share.

For a dividend history and other dividend-related data on Macy's (M) click here.

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