Macys (NYSE: M) reported Q1 EPS of $0.30, $0.13 better than the analyst estimate of $0.17. Revenue for the quarter came in at $5.89 billion versus the consensus estimate of $5.82 billion.

Increases FY2011 EPS of $2.40-$2.45, versus prior guidance of $2.20-$2.33 and the consensus of $2.34.

Doubles quarterly dividend to $0.10 per share, $0.40 annualized.

Yield on the dividend is 1.5 percent.

Dividends Earnings Guidance Hot Guidance