Ross Stores (ROST) will raise its quarterly dividend by 40.6 percent to $0.225 per share in the first quarter of 2018. This marks the 24th consecutive year of dividend increases by the off-price retailer. The new dividend yield for ROST is 1.1%.

This quarterly dividend is payable on March 30, 2018 to stockholders of record as of March 19, 2018.

Barbara Rentler, Chief Executive Officer, commented, “The increases to our stock repurchase and dividend programs for 2018 reflect the current strength of our balance sheet and our ongoing ability to generate significant amounts of cash after funding growth and other capital needs of the business. We have repurchased stock as planned every year since 1993 and also raised our cash dividend annually since 1994. This consistent record reflects our ongoing commitment to enhancing stockholder value and returns.”

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.