Williams-Sonoma (WSM) Raises Quarterly Dividend 5.7% to $0.37 and Approves $500M Buyback

March 16, 2016 4:17 PM EDT

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Williams-Sonoma (NYSE: WSM) declared a quarterly dividend of $0.37 per share, or $1.48 annualized. This is a 5.7% increase from the prior dividend of $0.35.

The dividend will be payable on May 27, 2016, to stockholders of record on April 29, 2016, with an ex-dividend date of April 27, 2016.

The annual yield on the dividend is 2.5 percent.

Williams-Sonoma, Inc. (NYSE: WSM) announced today that its Board of Directors has authorized a new $500 million stock repurchase program that the company intends to execute over the next three years.

Laura Alber, President and Chief Executive Officer, remarked, “The new stock repurchase authorization, along with our decision to increase the quarterly dividend, underscores our commitment to return capital to our stockholders, and reflects our confidence in the cash-generating power of our multi-channel and multi-brand business model.”

The new stock repurchase reprogram is in addition to the company’s previous $750 million stock repurchase program announced in March 2013. As of January 31, 2016, there was approximately $62 million remaining for future repurchases under the $750 million program, for total repurchase authorizations of $562 million. The company’s stock repurchase programs authorize the purchase of the company’s common stock through open market and privately negotiated transactions 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 programs do not have an expiration date and may be limited or terminated at any

For a dividend history and other dividend-related data on Williams-Sonoma (WSM) click here.

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