Dick’s Sporting Goods hikes dividend

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Dick’s Sporting Goods hikes dividend

By Marianne Wilson - 02/15/2018
Dick's Sporting Goods Inc. had some goods for shareholders on Thursday.

The sporting goods retailer said it will raise its quarterly dividend by 32% to 22.5 cents a share, from 17 cents a share. The new dividend, which will be payable on March 30 to shareholders of record as of March 9, is equivalent to an annualized rate of $0.90 per share.

"The significant increase in our dividend demonstrates the strength of our balance sheet and the confidence we have in our company's future," said Edward Stack, CEO, Dick's Sporting Goods. "We remain firmly committed to investing in the profitable growth of our business and returning capital to our shareholders."

As of Feb. 3, the company operated more than 715 Dick’s Sporting Goods locations across the United States, with four additional stores planned to open in February. Dick’s also owns and operates Golf Galaxy and Field & Stream specialty stores.

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