Foot Locker (FL) will hike its quarterly dividend by 33.3 percent to 20 cents per share in 2021. Last year FL restarted paying quarterly dividends with a first payment of 15 cents per share after the retailer of shoes and apparel had suspended its quarterly dividend in the second quarter of 2020 because of the COVID-19 pandemic. This followed a 5.3 percent raise in the company's quarterly dividend to $0.40 per share earlier in 2020, marking 10 consecutive years of annual dividend increases by the footwear retailer.

The increased dividend of 20 cents will be payable on April 30, 2021 to shareholders of record on April 16, 2021. An annual dividend rate of 80 cents per share yields 1.3% at a stock price of $62. Foot Locker will pay an estimated $83 million in dividends to shareholders annually now, up from $63 million previously.

Foot Locker, Inc. is a retailer of shoes and apparel. Foot Locker, Inc. is a specialty athletic retailer operating stores in countries in North America, Europe, Australia, and New Zealand. Through its Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02 retail stores, as well as its direct-to-customer channels, including Eastbay.com, footlocker.com, and SIX02.com, the Company is a leading provider of athletic footwear and apparel. Foot Locker had paid a dividend every year (again) since 2003 before the suspension was announced in 2020, ending a streak of 10 consecutive years of dividend hikes.