Stage Stores Announces Dividend Increase of 25 Percent
HOUSTON--(BUSINESS WIRE)-- Stage Stores, Inc. (NYS: SSI) today announced that its Board of Directors approved an increase in the Company's quarterly dividend rate to 12.5 cents per share from the previous rate of 10 cents per share. The new quarterly rate of 12.5 cents per share will be applicable to dividends declared by the Board beginning May 23, 2013.
"We are pleased to announce a significant dividend increase which demonstrates our commitment to return cash to shareholders and is supported by our expectations for future earnings and cash flow," said Michael Glazer, President and Chief Executive Officer. "This 25 percent increase reflects our intent to create value through increasing shareholder distributions, and is a testament to the strength of our balance sheet and our confidence in delivering future growth."
About Stage Stores
Stage Stores, Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody's, Palais Royal, Peebles, Stage and Steele's names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The Company operates 864 stores in 40 states. The Company also has an eCommerce website. For more information about Stage Stores, visit the Company's web site at www.stagestoresinc.com.
Stage Stores, Inc.
Bob Aronson, 800-579-2302
Vice President, Investor Relations
KEYWORDS: United States North America Texas
The article Stage Stores Announces Dividend Increase of 25 Percent originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.