As announced in our March 18, 2015 press release, our Board of Directors increased our quarterly cash dividend by $0.02, or 6%, from $0.33 per common share to $0.35 per common share. The indicated annual cash dividend, subject to capital availability, is $1.40 per common share.

Laura Alber, President and Chief Executive Officer, remarked, "We are very pleased to announce that our Board has authorized a $0.02, or 6%, increase in our quarterly dividend to $0.35 per share. Our decision today to increase the dividend is based on the ongoing strong performance we have seen in our business and our commitment to maintain our dividend payout ratio at 35 - 40% of net income. We remain committed to returning capital to our shareholders through dividend payments and the continuation of our multi-year share repurchase authorization announced in January 2013, and we remain confident in the cash-generating power of our multi-channel, multi-brand business model."