Levi Strauss & Co. (LEVI) will raise its quarterly dividend by another 33.3 percent to 8 cents per share in 2021. This follows a dividend hike of 50 percent to 6 cents per share in Q2 of 2021. Earlier this year the jeans company reinstated a quarterly dividend with a 4 cent per share payment. Last year the jeans maker suspended its quarterly dividend because of the COVID-19 pandemic. The company had initiated a quarterly dividend in 2019, the same year Levi Strauss went public.
The next dividend will be payable in cash on or after August 18, 2021, to the holders of record of Class A common stock and Class B common stock at the close of business on August 2, 2021. A new annual dividend rate of $0.32 per share yields 1.1% at a stock price of $28.38.
Levi Strauss & Co. is a manufacturer of apparel. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi's, Dockers, Signature by Levi Strauss & Co., and Denizen brands. Its products are sold worldwide through a combination of chain retailers, department stores, online sites, and retail stores and shop-in-shops. Levi Strauss & Co. became a public company in March 2019.