Williams-Sonoma (WSM) Raises Quarterly Dividend 10.4% to $0.53; Resumes Buyback, Repays $500M Revolver
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Williams-Sonoma (NYSE: WSM) declared a quarterly dividend of $0.53 per share, or $2.12 annualized. This is a 10.4% increase from the prior dividend of $0.48. The dividend will be payable on November 27, 2020, to stockholders of record on October 23, 2020, with an ex-dividend date of October 22, 2020. The annual yield on the dividend is 2.1 percent.
Given the on-going strength of its business and liquidity position, the company has also decided to resume its share repurchase program and has repaid in full the short-term borrowings under its $500 million revolver.
“Our decisions to increase our quarterly dividend, resume our share buyback program and pay down our revolver reflect the strength of our business and financial position, and our commitment to maximizing returns for our shareholders,” said Laura Alber, President and Chief Executive Officer. “Our strong performance during this pandemic reinforces the relevance of our curated, sustainable products and the power of our digital-first platform. We are seeing an inflection point in our business and are more confident than ever in our strategies to deliver strong, long-term growth with increasing profitability.”
For a dividend history and other dividend-related data on Williams-Sonoma (WSM) click here.
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