Specialty home products retailer Williams-Sonoma (WSM) will raise its quarterly cash dividend by 9.9 percent to 78 cents per share in 2022. The year 2022 will mark 16  consecutive years of dividend increases by WSM. A new annual rate of $3.12 per share yields 1.9% to Williams-Sonoma shareholders at a stock price of $157.

The next quarterly WSM dividend is payable on May 27, 2022, to stockholders of record as of the close of business on April 22, 2022. The Board of Directors also approved a new $1.5 billion stock repurchase authorization, which supersedes the approximately $750 million that remains outstanding under the company’s current stock repurchase authorization. 

“Our impressive finish to fiscal 2021, our strong liquidity position, and our operating cash flows have allowed us to increase our quarterly dividend, and to authorize a new stock repurchase program of $1.5 billion,” said Laura Alber, President and Chief Executive Officer. “These actions reflect our commitment to execution and the resulting return of value to our shareholders.” 

Williams-Sonoma, Inc. is a specialty retailer of products for the home. These products are marketed through e-commerce websites, direct mail catalogs and retail stores. Williams-Sonoma, Inc. currently operates in the United States, Canada, Australia and the United Kingdom, offers international shipping to customers worldwide, and has unaffiliated franchisees that operate stores in the Middle East and the Philippines and stores and e-commerce websites in Mexico. Williams-Sonoma has paid a dividend to shareholders every year since 2006.