Hibbett Inc. announced that its Board of Directors has declared an initial quarterly dividend of 25 cents per share on the company’s common stock. The commencement of the company’s first ongoing dividend program is reflective of the company’s growth and commitment to delivering long-term shareholder value.
Anthony Crudele, chairman of the Board of Directors, commented, “The decision to initiate a quarterly cash dividend is the result of the Board’s confidence in the company’s financial strength and ability to generate strong cash flows from operations. A quarterly cash dividend, in addition to the recently expanded share repurchase authorization, demonstrates the company’s commitment to returning value to shareholders while managing the balance sheet in a prudent fashion.”
Mike Longo, president and chief executive officer, added, “We appreciate the Board’s support in establishing a quarterly cash dividend program. We are confident in our ability to execute our strategic plan as we grow our store base and continue to deliver compelling products and excellent service to our customers. We have built a great deal of momentum and feel we have positioned the business very well for the future.”
The declared $0.25 cash dividend will be paid on July 20, 2021, to stockholders of record at the close of business on July 8, 2021.
Photo courtesy Hibbett