Macy's (M) Raises Quarterly Dividend 15.2% to $0.36; 2.2% Yield

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Go back to Macy's (M) Raises Quarterly Dividend 15.2% to $0.36; 2.2% Yield

Macy's (M) Misses Q1 EPS by 9c; Boosts Dividend, Buyback Program

May 13, 2015 8:01 AM EDT

Macy's (NYSE: M) reported Q1 EPS of $0.56, $0.09 worse than the analyst estimate of $0.65. Revenue for the quarter came in at $6.23 billion versus the consensus estimate of $6.32 billion.

Comparable sales on an owned plus licensed basis were down by 0.1 percent in the first quarter. On an owned basis, first quarter comparable sales declined by 0.7 percent.

The company also announced a 15 percent increase in its dividend on common stock and a $1.5 billion increase in its share repurchase authorization.

Macy's reaffirmed FY2015 guidance. In fiscal 2015, as previously announced, the company expects... More