Macy's (M) will raise its quarterly dividend by 4.9 percent to $0.3775 per share in 2016. This follows a 15.2 percent dividend hike by the department stores operator in the previous year.

Macy’s, Inc.  operates stores in 43 states, the District of Columbia, Puerto Rico and Guam. The company's operations are conducted through Macy's, Bloomingdale's, Bloomingdale’s The Outlet, Macy’s Backstage, and bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under license agreements with Al Tayer Insignia, a company of Al Tayer Group, LLC. The company sells a wide range of merchandise, including apparel and accessories (men’s, women’s and kids'), cosmetics, home furnishings and other consumer goods. The specific assortments vary by size of store, merchandising assortments and character of customers in the trade areas. Most stores are located at urban or suburban sites, principally in densely populated areas across the United States. Macy's is a corporation organized under the laws of the State of Delaware in 1985. The company and its predecessors have been operating department stores since 1830. Macy’s, Inc. is headquartered in New York, New York.