The Children's Place, Inc. (Nasdaq: PLCE) announced that its Board of Directors has approved a new $250 million share repurchase program and has declared a quarterly dividend.

Jane Elfers, President and Chief Executive Officer, commented, "Since 2009, we have returned over $582 million to shareholders through share repurchases and dividends. The continuation of our quarterly dividend and the new share repurchase authorization reflect our confidence in our ability to execute on our strategic initiatives and our continuing commitment to return excess capital to shareholders."

The Board declared a quarterly cash dividend of $0.15 per share to be paid January 7, 2016 to shareholders of record at the close of business on December 17, 2015. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company's Board of Directors based on a number of factors, including business and market conditions, the Company's future financial performance and other investment priorities.

The share repurchase authorization announced today permits the Company to repurchase shares in the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, and other market and business conditions, and the Company may suspend or discontinue the program at any time, and may thereafter reinstitute purchases, all without prior announcement.