PriceSmart Inc (ticker symbol PSMT) will raise its semi-annual dividend by 22.9 percent to $0.43 per share in 2022. This is the first dividend hike announced by the operator of 49 warehouse clubs in 12 countries and one U.S. territory since 2014.

On February 3, 2022, the Company's Board of Directors declared an annual cash dividend in the total amount of $0.86 per share, with $0.43 per share payable on February 28, 2022 to stockholders of record as of February 15, 2022 and $0.43 per share payable on August 31, 2022 to stockholders of record as of August 15, 2022.

In its press release, announcing the dividend hike, PriceSmart states that the company anticipates the ongoing payment of semi-annual dividends in subsequent periods, although the actual declaration of future dividends, the amount of such dividends, and the establishment of record and payment dates is subject to final determination by the Board of Directors at its discretion after its review of the Company's financial performance and anticipated capital requirements, taking into account all relevant factors, including, but not limited to, the uncertainty surrounding the ongoing effects of the COVID-19 pandemic on our results of operations and cash flows.

PriceSmart, headquartered in San Diego, owns and operates U.S. style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 49 warehouse clubs in 12 countries and one U.S. territory (nine in Colombia; eight in Costa Rica; seven in Panama; five in the Dominican Republic and Guatemala; four in Trinidad; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). In addition, the Company plans to open its 50th club in Portmore, Jamaica in April 2022.