DICK'S Sporting Goods, Inc. (DKS) will raise its quarterly dividend by another 20.7 percent and will also pay a special dividend of $5.50 per share in 2021. This is the second dividend hike announced by DKS in 2021 for a total increase of 40 percent. This puts the dividend above the previous record level of 31.25 cents quarterly before the COVID-19 related suspension in 2020.
Both the special and regular quarterly dividends are payable in cash on September 24, 2021, to stockholders of record at the close of business on September 10, 2021. The new annual dividend rate of $1.75 per share yields 1.4% at a stock price of $129.60. The special dividend will yield 4.2% at the current stock price.
DKS stock is up 130 percent year-to-date touching fres all time highs this week. Last year DKS stock hit a pandemic low of less than $20 before the big rebound started.
DICK'S Sporting Goods, Inc. is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories. The company's products are focused on Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear. DICK'S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping. The company is headquartered in Pittsburgh, PA and was founded in 1948. A dividend has been paid every year since 2011.