Williams-Sonoma (WSM) Raises Quarterly Dividend 11.6% to $0.48, 3.4% Yield; Raises Share Buyback Authorization by $500M
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Williams-Sonoma (NYSE: WSM) declared a quarterly dividend of $0.48 per share, or $1.92 annualized. This is an 11.6% increase from the prior dividend of $0.43.
The dividend will be payable on May 31, 2019, to stockholders of record on April 26, 2019, with an ex-dividend date of April 25, 2019.
The annual yield on the dividend is 3.4 percent.
Additionally, the Board of Directors increased the amount available for repurchases under its existing stock repurchase program by $500 million.
Laura Alber, President and Chief Executive Officer, commented, “Our decision to increase our dividend and stock repurchase authorization reflects our confidence in our multi-channel, multi-brand model and our strong cash flow generation. This also demonstrates our commitment to maximizing returns to shareholders.”
The increase to the stock repurchase program is effective as of March 20, 2019, and results in approximately $710 million available for future repurchases under the company’s stock repurchase authorization. The company’s stock repurchase program authorizes the purchase of the company’s common stock through open market and privately negotiated transactions, including through an accelerated repurchase program, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements, capital availability and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.
For a dividend history and other dividend-related data on Williams-Sonoma (WSM) click here.
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Create E-mail Alert Related CategoriesCorporate News, Dividend Hike, Dividends, Hot Corp. News, Management Comments, Stock Buybacks
Related EntitiesDividend, Stock Buyback
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