Ross Stores (ROST) will raise its quarterly dividend by 13.3 percent to $0.255 per share in the first quarter of 2019. This marks the 25th consecutive year of dividend increases by the off-price retailer and follows a 40 percent dividend hike last year.

The next quarterly dividend is payable on March 29, 2019 to stockholders of record as of March 18, 2019. The new annual rate of $1.02 per share yields approximately 1.1% at a stock price of $95.

Barbara Rentler, Chief Executive Officer, commented, “The increases to our shareholder payouts for 2019 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 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.