American Eagle Outfitters (AEO) will raise its quarterly dividend by 30.9 percent to 18 cents per share in Q3 of 2021. This March the apparel retailer reinstated its quarterly dividend at $0.1375 per share, following the suspension during the COVID-19 pandemic in 2020.
The quarterly dividend is equivalent to an annual dividend of $0.72 per share, up from $0.55 per share previously. The second quarter dividend is payable on July 23, 2021 to stockholders of record at the close of business on July 9, 2021.
“I am pleased to announce a material increase to our dividend today. Following a record first quarter result, the increase reflects our confidence in the growth potential of our leading brands and profit flow through fueled by our Real Power. Real Growth. value creation plan. We are well-positioned to sustain solid cash flow and remain committed to generating strong shareholder returns,” said Jay Schottenstein, AEO’s Executive Chairman of the Board and Chief Executive Officer.
American Eagle Outfitters, Inc. is a multi-brand specialty retailer. The company offers a range of apparel and accessories for men and women with stores in the United States, Canada, Mexico, Hong Kong, China and the United Kingdom. Its company-owned retail stores are located in shopping malls, lifestyle centers and street locations in the United States, Canada, Mexico and Hong Kong. Its other brands include Tailgate and Todd Snyder New York. Tailgate is an apparel brand with a college town store concept . Todd Snyder New York is a menswear brand and operates approximately two Todd Snyder New York brand stores.