Former Dividend Aristocrat Ross Stores (ROST) will reinstate its quarterly dividend with a payment of $0.285 per share in Q1 of 2021. Last year the retailer suspended its dividend because of the COVID-19 pandemic. The Dividend Aristocrat had raised its quarterly dividend by 11.8 percent to $0.285 per share earlier in 2020 before the suspension, marking the 26th consecutive year of dividend increases by the off-price retailer. This record came to an end with Ross suspending the dividend.
Shareholders will receive the next quarterly payment of $0.285 per share on March 31, 2021 with a record date of March 16, 2021. At a stock price of $129 the estimated dividend yield for Ross Stores is 0.9%.
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.