Matthews, N.C. – The board of directors has increased the amount of the regular quarterly dividend payment to $0.31 per share, an increase of 19.2% from the preceding quarterly cash dividend of $0.26 per share. The increase will be effective with the declaration of the next quarterly dividend.
“Family Dollar has a proven business model with a long-track record of success. For more than 54 years, we have provided our customers with a compelling combination of value and convenience,” said Howard Levine, chairman and CEO. “Our board’s decision to maintain our remarkable record of 38 consecutive years of dividend increases shows their unwavering commitment to shareholders, and the increase of 19.2% reflects our confidence in the company’s long-term growth potential and in our ability to deliver stronger financial returns.”
Family Dollar recently reported disappointing first quarter financial results, and also announced that president and COO Michael Bloom has left the company to pursue other interests. At the time, Levine said he and Bloom were not in agreement on merchandising strategies.