Ross Stores (ROST) will raise its quarterly dividend by 18.5 percent to $0.16 per share. This higher quarterly dividend is payable on March 31, 2017 to stockholders of record as of March 10, 2017.

“Our larger two-year $1.75 billion stock repurchase authorization and increase in the quarterly cash dividend demonstrate our ongoing confidence in the Company’s ability to generate significant amounts of cash after funding our growth and the other capital needs of our business. We have repurchased stock as planned every year since 1993 and also raised our cash dividend annually since 1994. This consistent record also reflects our unwavering commitment to enhancing stockholder value and returns.”, according to Chief Executive Officer Barbara Rentler.

Ross Stores, Inc. is an off-price apparel and home fashion chain. The company operates two brands of off-price retail apparel and home fashion stores: Ross Dress for Less and dd’s DISCOUNTS. Ross offers name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. Ross' target customers are primarily from middle income households. dd's DISCOUNTS features name brand apparel, accessories, footwear, and home fashions at savings of 20% to 70% off moderate department and discount store regular prices. Ross Stores has locations in the United States, the District of Columbia and Guam.