Polo Ralph Lauren Dresses Up Dividend (RL)
By Gordon Wilcox
November 04, 2009 8:01 PM
November 04, 2009 8:01 PM
Apparel retailer Polo Ralph Lauren (NYSE: RL) is boosting its quarterly dividend to 10 cents a share from five cents, increasing the annual payout by $20 million. The company expects to quadruple the payout to 40 cents a share in the next year.
The good news didn't end there. Polo Ralph Lauren is adding $225 million to a share repurchase program that still has $206 million remaining on it. Shares of Polo Ralph Lauren are up more than 66% year-to-date.
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