Dividends

As announced in our May 27, 2010 press release, our Board of Directors has authorized a $0.02, or 15%, increase in our quarterly cash dividend from $0.13 to $0.15 per common share. The aggregate quarterly dividend is estimated at approximately $16 million based on the current number of outstanding common shares. The indicated annual cash dividend, subject to capital availability, is $0.60 per common share, or approximately $65 million, based on the current number of common shares outstanding.

Adrian Bellamy, Chairman of the Board of Directors, commented, "Today, we are very pleased to announce that our Board has authorized a $0.02, or 15%, increase in our quarterly dividend to $0.15 per share. This is our second quarterly dividend increase this year. Including the $0.01 per share increase announced in March, our total quarterly dividend increase for the year is 25%, or $0.03 per share."

Laura Alber, President and Chief Executive Officer, remarked, "Our decision today to increase the amount of cash we are returning to shareholders has been based upon our rapidly improving financial performance, as evidenced by our results over the past several quarters. As we have said before, we are confident in the cash-generating power of our multi-channel, multi-brand business model. Based on this confidence, our strong cash position, and a projected cash flow that exceeds the funding requirements of our future growth, we believe this is an ideal time to further demonstrate our commitment to returning capital to our shareholders by increasing our dividend payout."

Dividend History