The board of directors of American Eagle Outfitters, Inc. (AEO) has approved a 31 percent increase in the quarterly cash dividend to 18 cents per share.
“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 fuelled by our Real Power. Real Growth. value creation plan,” said Jay Schottenstein, AEO’s executive chairman and chief executive officer.
The company said that this quarterly dividend is equivalent to an annual dividend of 72 cents per share, up from 55 cents 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.