Foot Locker, Inc. (FL) Raises Quarterly Dividend 11.1% to $0.20; New $600M Buyback

February 20, 2013 4:18 PM EST
Foot Locker, Inc. (NYSE: FL) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is an 11.1% increase from the prior dividend of $0.18. The dividend will be payable on May 3, 2013, to stockholders of record on April 19, 2013, with an ex-dividend date of April 17, 2013. The annual yield on the dividend is 2.3 percent.

Second, the Board of Directors approved a new 3-year, $600 million common share repurchase program extending through January 2016, replacing the Company's previous $400 million program. The Company spent $129 million under that program in 2012.

Third, the Board of Directors approved a $220 million capital expenditure program for 2013, a significant increase over the approximately $163 million spent in 2012. The Company plans to invest in its many growth opportunities, including new and innovative store formats; continued expansion in Europe; more sophisticated systems for its buyers and planners; technology to improve its customers' experience; and robust capabilities for its digital segment, among other initiatives.

For a dividend history and other dividend-related data on Foot Locker, Inc. (FL) click here.

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