Williams-Sonoma raises dividend, citing ‘strong performance’ during pandemic
Williams-Sonoma has increased its quarterly dividend by 10%.
The home goods retailer said that its board of directors has authorized a $0.05 or 10% increase in the company’s quarterly cash dividend to $0.53 per share. The dividend is payable on Nov. 27 to stockholders of record as of October 23.
In addition, Williams-Sonoma has decided to resume its share repurchase program and has repaid in full the short-term borrowings under its $500 million revolver.
“Our decisions to increase our quarterly dividend, resume our share buyback program and pay down our revolver reflect the strength of our business and financial position, and our commitment to maximizing returns for our shareholders,” said Laura Alber, president and CEO. “Our strong performance during this pandemic reinforces the relevance of our curated, sustainable products and the power of our digital-first platform. We are seeing an inflection point in our business and are more confident than ever in our strategies to deliver strong, long-term growth with increasing profitability.”