Williams-Sonoma (WSM) Raises Quarterly Dividend 11.3% to $0.59; New $1B Buyback Plan
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Williams-Sonoma (NYSE: WSM) declared a quarterly dividend of $0.59 per share, or $2.36 annualized. This is an 11.3% increase from the prior dividend of $0.53. The dividend will be payable on May 28, 2021, to stockholders of record on April 23, 2021, with an ex-dividend date of April 22, 2021. The annual yield on the dividend is 1.7 percent.
The Board of Directors also approved a new $1 billion share repurchase authorization, which supersedes the remaining outstanding under the company’s current share repurchase authorization. Additionally, given the strength of the company’s liquidity position with over $1.2 billion in cash at the end of FY2020, the company has repaid early in full its $300 million Term Loan, eliminating all funded debt as of February 26, 2021.
“Our decisions to increase our quarterly dividend, to approve a new $1 billion share buyback authorization and to eliminate all outstanding funded debt reflect our confidence in the long-term outlook of our company, and our commitment to maximizing returns for our shareholders,” said Laura Alber, President and Chief Executive Officer.
For a dividend history and other dividend-related data on Williams-Sonoma (WSM) click here.
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