Dividends

As announced in our January 12, 2012 press release, our Board of Directors has increased our quarterly cash dividend by $0.05, or 29%, from $0.17 per common share to $0.22 per common share. The aggregate quarterly dividend is estimated at approximately $23 million based on the current number of outstanding common shares. The indicated annual cash dividend, subject to capital availability, is $0.88 per common share, or approximately $91 million, based on the current number of common shares outstanding.

Adrian Bellamy, Chairman of the Board of Directors, commented, "The announcement to increase the dividend today by 29% reflects the Board's continuing confidence in the cash-generating power of our multi-channel business model, the strength of the company's balance sheet, and its desire to return excess cash to shareholders. This is our fourth quarterly dividend increase in the past twenty-four months, since March 22, 2010, for a total increase of $0.10 per share, or 83%."

Laura Alber, President and Chief Executive Officer, commented, "Looking forward to fiscal 2012, we remain committed to the fundamental strategies that drove our record earnings performance in fiscal 2011 and allowed us to gain market share, invest in future growth and improve company-wide profitability. It is our confidence in these strategies that led us to announce today the 29% dividend increase."

Dividend History