- Wednesday, October 16, 2024
American Eagle Outfitters, the Pittsburgh-based clothing retailer, announced on Wednesday that it is increasing its quarterly cash dividend by 25%. The company attributes this decision to its strong cash flow throughout the year.
Previously, American Eagle paid a dividend of 10 cents per share. The newly raised dividend will be 12.5 cents per share for this quarter, resulting in an annual yield of 2.4%. This yield is based on the Wednesday closing price of $20.79 per share.
Jay Schottenstein, the Chief Executive of American Eagle, expressed that the raised dividend reflects the company's robust fundamentals and its confidence in its strategic direction. Additionally, it signifies the health of its balance sheet.
Shareholders of American Eagle will receive the dividend on January 19th, 2023. To be eligible for the dividend, investors must hold shares as of January 5th, 2023.
American Eagle had paused its dividend temporarily in September 2022 but reinstated it at 10 cents per share in February. Prior to the pause, the company's quarterly dividend stood at 18 cents per share.
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