Academy Sports and Outdoors, Inc. announced that its Board of Directors approved the initiation of a quarterly cash dividend.
The Board declared an inaugural quarterly cash dividend with respect to the quarter ended January 29, 2022, of $0.075 per share of common stock. The dividend is payable on April 14, 2022, to stockholders of record as of the close of business on March 17, 2022.
“Today’s announcement of a quarterly cash dividend marks a milestone for Academy resulting from our efforts to strengthen the balance sheet and the company’s ability to generate sustainable cash flow. This dividend and our existing stock repurchase program demonstrate the confidence that our Board and management team have in our growth initiatives and the future performance of our business, as well as our commitment to increasing total shareholder value,” said Ken Hicks, chairman, president and chief executive officer.
The company intends to announce quarterly cash dividends, the declaration, timing, amount, and payment of which will be subject to the discretion and approval of the Board, taking into account such considerations as the Board may deem relevant at the time, including, among others, the company’s results, financial condition and capital allocation plans.
Photo courtesy Academy Sports + Outdoors
