Dick's Sporting Goods Announces Dividend
On November 14, 2011, Dick's Sporting Goods (NYSE: DKS) authorized and declared an annual dividend for 2011 in the amount of $0.50 per share on the Company's Common Stock and Class B Common Stock. The dividend is payable in cash on December 28, 2011 to stockholders of record at the close of business on December 7, 2011. The Company currently intends to begin payments of regular quarterly dividends beginning in 2012; however, the actual declaration of such future dividends and the establishment of the per share amount, record dates and payment dates for such future dividends are subject to the final determination of the Company's Board, and will be dependent upon future earnings, cash flows, financial requirements and other factors.
"Our Board's decision to initiate a dividend demonstrates its confidence in the Company's financial strength and growth potential," said Mr. Stack. "Our solid cash position and cash flow outlook enable us to continue to invest in future profitable growth opportunities, while also returning cash to our shareholders through the dividend."
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