HanesBrands, the parent of Champion and Gear for Sports, said its board of directors is raising the company’s dividend by 50 percent, declaring a regular cash dividend of 30 cents per share to be paid Mar. 11, 2014, for stockholders of record at the close of business Feb. 18, 2014.
Hanes has increased its payout ratio target for returning cash to shareholders via dividends to 25 percent to 30 percent of earnings per share.
“Hanes is generating significant value for shareholders through earnings growth, a strong balance sheet and significant cash flow,” Hanes Chairman and Chief Executive Officer Richard A. Noll said. “We are in a great position to increase the amount of cash we can return to stockholders, while retaining ample flexibility to pursue other growth opportunities, including acquisitions.”
The quarterly dividend is the fourth since Hanes initiated its cash dividend program in April 2013. Each of the previous cash dividends were paid at a rate of 20 cents per share.
HanesBrands' brands include: Hanes, Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, barely there, Wonderbra and Gear for Sports.
