Ralph Lauren Corporation (RL) will reinstate its quarterly dividend. Last year the apparel company suspended its quarterly dividend in May because of COVID-19. The company last raised its quarterly dividend by 10.0 percent to $0.6875 per share in 2019.
The Board of Directors approved to reinstate its regular quarterly cash dividend on the Company's Common Stock, previously suspended due to the COVID-19 pandemic. The quarterly cash dividend is $0.6875 per share for a total annual dividend amount of $2.75 per share. The next quarterly dividend is payable on July 9, 2021 to shareholders of record at the close of business on June 25, 2021.
Ralph Lauren Corporation designs, manufactures and distributes premium lifestyle products, including apparel, accessories, home furnishings, and other licensed product categories. The company's brand names, which include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, and Club Monaco. Founded in 1967 by Mr. Ralph Lauren, the company had paid a dividend every year since 2003 before the suspension was announced in 2020. Ralph Lauren reinstated its dividend in 2021.